The State Bank of India (SBI) plans to acquire a 49% stake in troubled lender Yes Bank as part of a rescue package set to dilute the holdings of a number of private equity backers.
Quona Capital, a VC focused on financial inclusion in emerging markets, has raised $203 million for its second fund. It will target financial technology across India, Southeast Asia, Latin America, and Africa.
Motilal Oswal Private Equity (MOPE) has committed INR2.4 billion ($32.4 million) to Molbio Diagnostics, a molecular diagnostics manufacturer that specializes in low-cost diagnosis of tuberculosis and other diseases.
Quadria Capital, a Singapore-headquartered private equity firm that invests in healthcare companies across India and Southeast Asia, has raised $595 million for its second fund.
Eight Roads, an independent investment firm backed by Fidelity International, has appointed pharmaceutical industry veteran Shirish Belapure as a venture partner in its India office.
RTP Global, a Russia-headquartered VC firm that invests in Asia via offices in India and Singapore, has raised $650 million for its third global fund.
US-based Equity International has joined a Series C round of undisclosed size for India’s Stanza Living, a technology-enabled hospitality and student housing services provider.
Tricog, an India-based cardiac analytics firm, has raised $10.5 million in Series B funding from a group of domestic and international VCs.
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SMEcorner, an Indian online lender to small businesses, has closed a $30 million round comprising equity and debt led by Paragon Partners.
Spinny, an online platform for selling used cars, raised $43.7 million in a funding round led by The Fundamentum Partnership, an Indian growth capital VC firm.
Morgan Stanley Private Equity Asia (MSPEA) has led a INR1.6 billion ($23 million) Series D round for Indian low-income home loans provider Ummeed Housing Finance.
Hasura, a software-as-a-service firm that helps companies improve the data delivery process, has raised $9.9 million in a Series A round led by Vertex Ventures.
Qure, an India-based artificial intelligence-enabled medical imaging start-up, has raised $16 million in a Series A round led by Sequoia Capital India and MassMutual Ventures Southeast Asia.
WayCool Foods receives $32 million in funding to support an expansion of its agricultural technology proposition that removes middlemen - and boosts efficiency - in food supply chains
Warburg Pincus will invest INR10.8 billion ($150.7 million) in Apollo Tyres, a multinational tire manufacturer headquartered in India.
Indian scooter rental start-up Vogo has raised $19 million for fleet expansion in a Series C round led by LGT Lightstone Aspada.
UK-based development finance institution CDC Group led a $20 million funding round for iMerit, a firm that helps train artificial intelligence (AI) processes.
Rupeek, an India-based online gold loan marketplace, has received $60 million in a funding round led by GGV Capital and Bertelsmann India Investments.
BharatPe, a digital payment services provider for offline businesses, has raised $75 million to help fund a non-banking financial company (NBFC) that will issue loans to small businesses.
Groupe Aéroports de Paris (ADP), a French airport operator, will acquire a 49% stake in India’s GMR Airports (GAL) for INR107.8 billion ($1.49 billion), outbidding a PE-backed consortium.
The International Finance Corporation (IFC) has agreed to invest INR2.1 billion ($29.6 million) in India-listed fashion retailer Future Lifestyle Fashions (FLF).
Swiggy, an Indian food and grocery delivery platform, has received $113 million in a Series I round led by Prosus Ventures, formerly known as Naspers Ventures and Food.
Sequoia Capital India has led a $32 million Series C round for Whatfix, an Indian software-as-a-service (SaaS) firm that helps enterprises increase digital adoption rates.