1) “Hyderabad-based WhistleDrive raises ₹72 crore from Chicago-based Colosseum Group under its Series B round of funding
2) Indian B2B marketplace unicorn Udaan raises $585m in fresh funds
Udaan, a three-year-old business-to-business e-commerce platform in India, has raised more than half a billion dollars in a new financing round as it looks to bring more kirana stores (neighborhood stores), chemists and other small businesses online through its marketplace.
The startup said today it has raised $585 million in a Series D round from Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures. Existing investors Lightspeed Venture Partners, which wrote its first check to the startup back in 2016, and DST Global also invested in the round.
3) Blockchain startup InstaDApp raises $2.4 million in a funding round led by Pantera Capital.
The Hyderabad-based startup plans to build its smart wallet to help users execute advanced transactions through the company’s decentralised finance (DeFi) platform
1) OfBusiness, a startup that lends to small and medium enterprises, has raised Rs 250 crore led by Norwest Venture Partners with participation from existing investors Falcon Edge and Matrix Partners.”
2) B2B footwear marketplace ShoeKonnect gets funding from new, existing investors
Online business-to-business footwear marketplace ShoeKonnect has secured about Rs 11 crore ($1.55 million) in a new round of funding from a new and an existing investor.
ShoeKonnect, operated by Bizcrum Infotech Pvt. Ltd, raised the funding from existing investor Info Edge (India) Ltd and a new investor. Info Edge said in a stock-exchange filing that it contributed Rs 4 crore while the new investor put in the remaining amount. It didn’t name the investor.
Cognizant acquires SaaSfocus
Cognizant on Thursday announced that it has agreed to acquire SaaSfocus, a Noida-based consulting firm specialising in digital transformation. Financial details were not disclosed. The acquisition will expand Cognizant’s end-to-end digital transformation services and Salesforce cloud capabilities in the Asia-Pacific region. Over 350 SaaSfocus consultants will become part of Cognizant’s Salesforce practice, it said in a statement. The transaction is expected to close in the fourth quarter of 2018.
June 07, 2018
US firm Vora Ventures acquires Indian B2B online marketplace ShakeDeal
US private equity firm Vora Ventures on Tuesday announced that it has acquired ShakeDeal, a Bengaluru-based B2B bulk sourcing online marketplace for industrial goods, supplies,
and raw materials,
ShakeDeal enables procurement through its proprietary negotiation software along with on-demand aggregate buying to provide a fillip to millions of SMEs and businesses in their sourcing efforts for reselling or consumption.
Focused on Indian market, ShakeDeal offers multiple tools for businesses to manage behind-the-curtain sourcing events, negotiations, and continuously improves its patent pending product for bulk buying.
The market place counts JSW, SAIL, 3M, Coramandal, Zuari as its clients.
Vora owns one of the fastest growing B2B Procure-to-Pay provider Aquiire.com.
Aquiire has traditionally focused on B2B commerce enablement market, including enabling marketplaces like ShakeDeal.
With ShakeDeal, Vora enters into direct deals and transactions from just enablement and further strengthens its leadership in the B2B commerce.
April 29, 2018
SoftBank pushes Flipkart board to wait for Amazon offer against Walmart’s
Flipkart’s largest shareholder SoftBank Group is making a final attempt to convince other key shareholders in India’s biggest online retailer to await an offer from Amazon before agreeing to a sale to Walmart Inc., three people familiar with the matter said.
Amazon has indicated to Flipkart’s board that its offer will be at least 10% higher than that of Walmart, the people said.
Walmart is close to buying more than 55% in Flipkart, they said, although the US retailer’s final stake could be higher, depending on what SoftBank decides.
“SoftBank is the only one pushing for Amazon because as per the current terms offered by Walmart, they will barely make any money.
Because Amazon has indicated it will offer 10-15% more than Walmart, SoftBank would prefer to wait,” one of the people said.
Flipkart’s key investors, Tiger Global, Naspers and Accel Partners, all of which have representatives on the Flipkart board, are not convinced that a deal with Amazon is practical to pursue, the people said.
They are worried that Amazon may decide to back out of a deal altogether.
The three investors also believe that India’s antitrust regulator may not clear a merger between Flipkart and Amazon India, which control more than 80% of online retail here.
April 10, 2018
Why government's new draft rule could make or break e-pharmacies like NetMeds, PharmEasy
India is a step closer to implementing laws that ensure patients purchase genuine medicines from online pharmacies.
At present, online pharmacies are regulated using legislations such as the Information Technology and Drugs & Cosmetics Acts.
A major change in the draft that officials are mulling is removing a condition that would mandate e-pharmacies to apply for licences to operate in every state separately.
Instead, they may only have to register with the Central Drugs Standard Control Organisation, India’s apex drug regulatory body, and apply for licence renewal every three years,
Yet, other concerns remain. E-pharmacies will soon have clarity on which medicines can be sold without prescription and which kinds of prescriptions are required for each category.
Most large online pharmacies have decided to take matters into their own hands by forming India Internet Pharmacy Association (IIPA) to act as a lobby group against misconceptions about their
Today, most of these e-pharmacies have also hired qualified pharmacists, refuse to dispense prescription medicines sans prescription and do not sell ScheduleX and other habit-forming medicines
January 10, 2017
InMobi buys US-based AerServ for $90 mn
Mobile ad-tech firm InMobi has acquired Los Angeles-based AerServ, which deals with inventory and audience monetisation technology for mobile publishers, for $90 million in cash and stock.
NCR Corp sells part of ATM business to Electronic Payment and Services
US-based NCR Corporation has sold a portion of the assets of its ATM business in Kerala, Bihar, Jharkhand and Lakshadweep to Mumbai-based payment system company Electronic Payment and Services Pvt. Ltd.Following the acquisition, EPS will be managing more than 11,000 ATMs in India on behalf of banks.
December 27, 2017
Digital startup Lendingkart raises debt from State Bank of India
Lendingkart has raised Rs25 crore in debt from State Bank of India (SBI), a first for the country’s largest public sector lender vis-a-vis a digital lending start-up.
In a statement, Lendingkart said the Rs25 crore loan is in the form of cash credit facility which essentially allows the company to draw the amount over separate tranches as and when it needs it.
With the latest round, the total debt raised by the company to date has grown to Rs378 crore—largely from non-banking financial companies (NBFCs) such as Aditya Birla Financial Services, IFMR Capital and Mannapuram Finance.
October 27, 2017
Quess Corp acquires 70% stake in Vedang Cellular for $6m
Business services firm Quess Corp. Ltd has entered into an agreement to acquire acquire a 70 per cent stake in Mumbai-based Vedang Cellular Services Pvt. Ltd for Rs40 crore ($6.2 million).
Vedang Cellular Services is in business of telecom network optimization and installation of active components in telecom network.
Thomas Cook (India) Ltd-owned Quess offers services such as recruitment, temporary staffing, technology staffing, IT products and solutions, skill development, payroll, compliance management, integrated facility management and industrial asset management services.
Fintech startup ZipLoan raises $3m funding led by Matrix Partners:
Online lending platform ZipLoan has raised $3 million in its Series A round of funding led by Matrix Partners India, with the participation of existing investors.
Ziploan, which is focussed on loans to small and medium enterprises, plans to use this latest funding geographical expansion in non-metro towns, increase its loan book size, and adding people to its team .
ZipLoan on an average offers Rs 1-5 lakh loans to small businesses.
SpotDraft raises $550k seed funding led by Hunch Ventures
SpotDraft, an online generator of contracts and invoices, has raised a seed funding round of $550,000 led by venture capital firm Hunch Ventures.
The round also saw the participation of Japan-based Spiral Ventures, 500 Startups, Singapore Angel Network, and Citrus Payments and Cube founder Satyen Kothari.
October 5, 2017
Tata Capital & Capital Float partner to fund SMEs
Tata Capital has partnered with Capital Float to fund small & medium enterprises (SMEs) in India.
Tata Capital will be co-lending on Capital Float’s digital lending platform, the company said on Thursday.
The credit limit for the borrowers will be up to Rs. 50 lakh for a period of one year. “.
September 06, 2017
Paytm Mall launches first ad campaign, to invest Rs 100 crore on media
Paytm Mall, the e-commerce arm of mobile wallet firm Paytm on Wednesday announced that it will spend Rs 100 crore specifically on media campaigns ahead of the Diwali festival, as it launched its first advertisement.
This money will be a part of its Rs 1000 crore budget announced earlier this week for marketing, cashbacks and promotions during the festival season.
September 05, 2017
Zomato likely to raise up to USD 200 million from Alibaba
Online food aggregator and exploration firm Zomato is in advanced talks to raise USD 200 million from Chinese e-commerce giant Alibaba and its affiliate Alipay, according to a report in The Economic Times.
The round of investment could see Alibaba pick up a major stake in the Indian start-up. Once called a start-up 'Unicorn', the deal may also put Zomato's valuation back at USD 1.1 billion.
May 18, 2017
Fintech startup PaySense raises $5.3m led by Jungle Ventures
Fintech startup PaySense has raised $5.3 million in a Series A round led by Jungle Ventures with participation from Naspers Group and Nexus Venture Partners. The Mumbai-based startup, which runs a digital credit platform, had earlier raised $2.3 million from Nexus Venture Partners and angel investors in 2015. PaySense plans to use the new funds to invest in its technology and to expand its team and the reach of its operations. At present, PaySense is available in 9 major cities including Mumbai, Delhi NCR, Bangalore and Chennai with expansion plans to go pan-India soon.
May 15, 2017
Chatbot firm Vernacular.ai gets funding from Kstart
Vernacular.ai, a multilingual artificial intelligence platform for businesses, has secured an undisclosed amount of funding from Kstart, the seed program of venture capital firm Kalaari Capital. “The challenges of Indian languages are very different from English. Transliteration in different scripts, identification of context for each language and wide usage of a hybrid combination of multiple languages are complex NLP problems. We are developing our own in-house technology to solve this problem in collaboration with leading industry [leaders] and academia,” said Akshay Deshraj, co-founder of Vernacular.ai.
May 01, 2017
Online gaming firm Head InfoTech raises $74m from Clairvest, others
Hyderabad-based online skill-based gaming platform Head InfoTech India Pvt Ltd has raised $73.7 million in funding from Canadian private equity firm Clairvest Group Inc and limited partnerships controlled by it.
Sepalika raises $750k led by Accel Partners
Health content platform Sepalika.com has raised $750,000 in a seed round led by Accel Partners.
Launched in March 2016, Mumbai-based Sepalika supports those looking to reverse chronic health conditions through guidance on lifestyle, dietary supplements and exercise.
The startup aims to use the fresh round of funding to build on its research-based content and strengthen its core proposition in the US, its key market, according to a company statement.
April 01, 2017
SoftBank withdraws $150-200m loan to Snapdeal
SoftBank, the largest shareholder in Snapdeal, has withdrawn a $150-200 million debt financing it had offered to Jasper Infotech, the parent company of the e-commerce firm, according to a report in The Economic Times quoting sources.
The move is likely to intensify the on-going battle between SoftBank and the early investors of Kalaari Capital and Nexus Venture Partner.
Apple opens App Accelerator in Bangalore
Apple has opened its App Accelerator in Bangalore which will provide specialised support for developers on Apple’s iOS platform, the company announced on Friday. Through this, Apple experts will lead briefings and provide one-on-one app reviews for developers every week. The accelerator will also provide support and guidance on Swift, Apple’s programming language for Macintosh-based platforms, iOS, Apple TV and Apple Watch.
March 05, 2017
India has a new unicorn in Paytm’s e-commerce arm.
Paytm’s existing investors Alibaba and SAIF Partners have put in $177 million and $23 million respectively into Paytm Mall.
Paytm Mall claims to have more than 1,40,000 sellers and 68 million SKUs.
Like most horizontal marketplaces, it also sells mobiles, electronics, fashion, groceries etc.
Paytm Mall will offer consumers combined features of the 'mall' and 'bazaar' concepts. It claims that only trusted sellers passing strict quality and eligibility criteria will be allowed on the 'mall'. All products listed on the mall will also go through Paytm-certified warehouse and shipping channels.
Paytm, which is set to take the battle to the other e-commerce biggies, already has 17 fulfillment centres and 40 courier partners across India.
14 January, 2017
Ed-tech startup Unacademy raises $4.5m in Series A round
Ed-tech startup Unacademy raises $4.5m in Series A round Ed-tech startup Unacademy, run by Sorting Hat Technologies Pvt. Ltd, has raised $4.5 million in a funding round led by Nexus Venture Partners and existing investor Blume Venture. Freshdesk CEO Girish Mathrubootham and Myntra CEO Ananth Narayanan, as well as the Stanford Angels also participated in the Series A round. The Bengaluru-based online learning platform plans to use this latest round of funding to expand its content portfolio, increase the number of educators on the platform, hire talent to scale up team, and improve user experience by leveraging technology
iService raises $440k led by Blume Ventures
iService raises $440k led by Blume Ventures Bengaluru-based iService, an on-demand after-sales service provider for electronics gadgets, has raised Rs 3 crore ($440,000) in a round led by early stage investor Blume Ventures. Freshdesk’s co-founder Girish Mathrubootham, TaxiForSure co-founder Aprameya Radhakrishna, Tapzo CEO Ankur Singla, former Flipkart executive Mekin Maheshwari, and Belong’s co-founder Vijay Sharma also participated the round.
SecurAX raises funding from Axilor, others
SecurAX raises funding from Axilor, others Bengaluru-based technology firm SecurAX has raised an undisclosed funding from Axilor, Parampara Early Stage Opportunities Fund and a clutch of angel investors. The cloud-based biometric workforce tracking solutions provider, plans to use the funds to enhance technology offerings, expand customer base and scale up its operations across India and the Middle East.
01, January 2017
InstantPay raises up to $5m;
Digital payments startup InstantPay, run by Delhi-based SMSdaak India Ltd, has secured between $3 million and $5 million (Rs 20 crore to Rs 34 crore) in a pre-Series A funding from Singapore-based RB Investments and Kaleden Holdings.
Started in 2010, InstantPay provides electronic payment and transaction processing systems to service providers, financial institutions, distributors, retailers and individuals. It has over 100 products and services and facilitates digital payments at kirana stores in tier-2 and 3 cities
December 22, 2016
a) Indo-German data as a service startup, Innoplexus has raised an undisclosed amount funding in its Pre-Series A round from German venture capital fund HCS. Subsequently, Hans-Christian Semmler, Managing shareholder of HCS will join as Chairman of the supervisory board of Innoplexus, the company said in a statement.
b) enKast raises $2m from Ivy League Alumni Angel Network Seamovation Labs, which operates enKast a platformthat enables modeling and talent agencies to monitor and optimise available resources in real time, has raised around $2 million from Ivy League Alumni Angel Network led by Manish Maheshwari, chief executive at Network 18 Digital
c) Japan’s Incubate Fund leads bridge round in ShopKirana Japanese seed-stage investors Incubate Fund has led a bridge round of funding in ShopKirana, a B2B platform for merchants and small retailers,
d) The Chennai Angels (TCA) has backed E-Vegetailing Pvt Ltd, a Chennai-based start-up engaged in selling farm fresh vegetables procured directly from farmers and delivered to customers, with Rs 1.1 crore ($162k).
WHAT WE DO ?
Legal Win supports many a e-commerce businesses both in India in abroad.
Our customers are e-commerce companies engaged in either
a) Business 2 Business(B2B) OR
b) Business 2 Consumer( B2C) , OR
c) Consumer 2Consumer OR
d) Consumer 2 Government.
Our focus areas on e-commerce practice include
c)Intellectual Property Rights("IPR") ,
d)Information Technology (Intermediaries Guidelines)Rules 2011,
e)Code of Advertising Practice &
All e-commerce businesses are complex and have plenty of legal challenges that need to be taken care of at all times.
We engage with our client in very early stages of launch of products/services in the internet and ensure that the client is able to harness the full potential of Internet.