It’s done. Bangalore based Flipkart, the Tiger Global and Accel Partners backed ecommerce company, has acquired rival Myntra. The deal was announced at a press conference in Bangalore today. The financial details of the transaction have not been disclosed. Multiple media reports say that the deal is a cash and stock transaction and put the value of the deal at anywhere between $300 million and $350 million.
Redwood City, California headquartered ad network PubMatic has acquired Mocean Mobile (formerly Mojiva), an enterprise grade mobile ad server for publishers. The financial details of the deal have not been disclosed. Following the acquisition, the New York based Mocean Mobile’s more than 40 employees will join PubMatic and move to its offices in New York and London.
Mumbai based startup accelerator VentureNursery has selected two startups — HotelsAroundYou and FindUrClass — for its fifth acceleration programme. The two startups were picked from over 550 applications received from multiple cities between February and April. While the majority of the applications came from Mumbai, Delhi, Bangalore and Pune, nearly 30 per cent were from Tier II cities such as Lucknow, Kanpur, Bhopal and Nagpur.
Bangalore based gifting products startup Chumbak Design has raised an undisclosed sum in a Series A round of funding led by Matrix Partners India. Existing investor Seedfund participated in the round. The company will use the funding to expand its footprint and launch new product categories. It currently retails through 18 exclusive Chumbak stores across six cities.
Ralali.com, a Jakarta based B2B ecommerce startup focused on industrial supplies and MRO (Maintenance, Repair and Operational) equipment, has raised an undisclosed amount in a seed funding round from East Ventures.
East Ventures is an early stage investment fund active in Jakarta, Singapore and Tokyo. Earlier this month it invested in Singapore based Art Loft, a marketplace for emerging Asian artists.
Nasdaq listed Cancer Genetics, a company engaged in DNA-based cancer diagnostics, has acquired Hyderabad based BioServe Biotechnologies for approximately $1.9 million. Under the terms of the agreement, BioServe India will become a subsidiary of Cancer Genetics and will be renamed Cancer Genetics India. The transaction is expected to close during the third quarter of 2014 and is subject to customary closing conditions and government approvals in India, said a statement.
The acquisition creates an exit for Hyderabad and Chennai based early stage investor Ventureast.
RapidValue, a Pleasanton, California based enterprise mobility solutions startup, has raised Rs 25 crore ($4.2 million) in a Series A funding round from Helion Venture Partners. The company, which also has operations in Kochi and Bangalore, will use the funds to grow in various markets and strengthen its delivery capabilities, said a statement.
On-demand tech support services company iYogi is in the market to raise $55 million to fuel a global expansion drive that will see it seed to establish a presence in Latin America and Europe this year. It also has China, parts of Africa and Southeast Asia on its radar in the medium to longer term.
India Drivers Network Services, a Bangalore based startup that operates auto rickshaw booking service mGaadi, has raised an undisclosed sum in a seed funding round from Unitus Seed Fund. The company will use the funds to further develop its network of auto rickshaw drivers, enhance its technology platform and expand operations in Bangalore and other metros.
Pinnacle Engines, a San Carlos, California based developer of ultra efficient engine designs, has raised an undisclosed sum in a Series C funding round from a group of investors. The new investors in the round include Mitsui Global Investment, Ventureast and an unnamed strategic OEM partner.