Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
Pai has direct and indirect investments in about a dozen companies.
'The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner.'
Valued at $5 billion, Byju's has seen growth sky rocket in the last two years on the back of mega VC top-ups.
It is Tata's fourth such investment in an e-commerce co.
'One good thing that has come out of all this is that it shown people that online ordering is the way forward.'
Sensing a huge opportunity in the healthcare sector during the Covid-19 pandemic and its aftermath, private equity (PE) players are upping their investments in the space. According to data from research platform VCCEdge, the PEs have together invested a staggering $583.82 million in the first five months of 2021 in five deals, which is the highest investment in the sector in the last five calendar years - from 2016 to 2020. The second highest investment in the sector took place in 2017, when PEs invested $503 million in 18 deals, with an average deal size of $29. 9 million.
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
After a recent spate of big-bang funding of food discovery and delivery apps, experts believe the sector's consolidation might be over and the remaining players are here to stay and thrive.
Maharashtra govt, California-based Zipline to launch the automated delivery service funded by Serum Institute.
The development comes close on the heels of Uber planning to invest substantial part of $3.5 bn Saudi money in India.
The proposed company, Yu Televentures, will import handsets from China and sell in the Indian market.
Over the last 12 months, thanks to bold bets by venture capital firms like Sequoia, SoftBank Vision Fund, and foreign strategic investors like Naspers, pipeline of start-ups with potential to achieve $1 bn in valuation is at an all-time high.
A deal, where a founder has brought back stake from early investors before an initial public offering, is unheard of in India or pretty much anywhere else, analysts pointed out.
New entity is likely to get a top-up of $200 million from a Chinese investor
'Which fund manager in the world will put money into a company that hasn't filed its annual account?'
Company says it is just replacing old guard with stronger leaders
Five Star Business Finance is in the business of providing loans to MSME entrepreneurs. Gireesh Babu finds out more about the company that plans to grow to 3,000 crore by 2020.
Mitra Biotech's personalised cancer therapy could be a game changer in the field of cancer medicine.
Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
Two weeks after one of the worst financial downturn in the US, the husband and wife team walked in with a business plan and now the company is Cisco, says Mohit Bhatnagar.
With Nikesh Arora's exit from Softbank, India's start-ups have lost one of its biggest supporters.
The silver lining is that after two years, e-commerce has emerged as the top sector with $689 million in investments across 15 deals, accounting for 43 per cent of all investments in January 2021.
Anupam Mittal, the fund man behind OlaCabs has lined up more investments.
Chillr recently raised $5 million from Seqouia Capital.
Internet entrepreneurs are the next big thing in India.
Founded in 2015, Meesho is one of the country's fastest growing social commerce platforms, and provides small and independent entrepreneurs with products and tools to start, maintain, and grow their businesses. Facebook's interest in the digital commerce follows Reliance Industries' entry into the hybrid e-commerce ecosystem.
Medha is an organisation created with the idea of bringing in better employment opportunities and life for educated youth.
OlaCabs' hyper-growth and an ambitious plan to expand to 100 cities by the end of 2015 are perhaps what attracted Japan's richest man, Masayoshi Son, chairman of telecom and media group SoftBank Corp, to announce an investment of $210 million (around Rs 1,260 crore) in the company.
According to data from Venture Intelligence, PEs invested in two mobile payment solutions firms each in 2009, 2010 and 2011. This grew to four deals in 2012 and five deals in 2013.
It hopes to leverage the growing number of mobile transactions
Practo is an online health service platform which assists patients to meet the best doctors and keeps digital records.
'Kids like something when it is interesting, focused, and offers scope for self-exploration.' 'We teach them how to learn, not force them,' Byju Raveendran tells Bibhu Ranjan Mishra.
The total staff strength - once 1,100 - is now under 200.
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Ola competes with Uber Technologies in India.
Murthy no more chairman emeritus; founders do not want to be addressed as promoters.
Even at early stage, start-ups are raising more money faster owing to the rise of a lot of specialised early-stage VCs and emergence of seed-stage programmes.
Vikramank Singh looks back at the year gone by!
This makes it the most valued fintech company in the country after Paytm and Walmart-owned PhonePe.
Giants like Pepsi and Coke are fast losing shelf-space to healthier, functional options.
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