Fund-raises by a beer maker and ride-hailing unicorn were the highlight of the startup deal street last week. One of India’s newest beer makers — B9 Beverages — raised $7.5 million from existing and new investors. Cab aggregator Ola raised $100 million in a fresh round of funding from U.S. hedge fund Falcon Edge Capital and UC-RNT Capital, a joint venture between Ratan Tata and University of California Investments.
Deal activity for smaller startups remained tepid as investments declined 40 percent from the week ago – eight startups raised about $30 million from angel investors and venture capitalists.
Trucking logistics startup 4TiGO raised $10 million (around Rs 66 crore) in Series A funding from existing investors Accel Partners and Infosys Ltd.’s co-founder Nandan Nilekani.
Bengaluru-based 4TiGO had raised about $2 million in seed funding from Nilekani and Accel in 2015. The firm kicked off its operations in January 2017.
The startup will use fresh funds to expand its network of trucks and to build its core technology product, co-founder Vivek Malhotra told BloombergQuint over the phone. A part of the investment will also go into building a payments platform for the logistics industry, Malhotra said.
4TiGO provides fleet management services for truck owners and helps logistics partners manage and track their inventory. It has a fleet of 6,500 trucks on its platform and aims to have 50,000 trucks by next year.
IFC To Invest $10 Million In Power2SME
International Finance Corporation, the private-sector investment arm of the World Bank, will invest up to $10 million (Rs 64 crore) in Gurugram-based online buying hub for small and medium enterprises…