Fashion retailer YepMe planning to hive off the software unit into a separate entity is in talks with investors to raise $15-20 million for that entity, which it targets to be a large business ensuring high margins. It plans to open 400 stores by the end of this financial year in keeping with the omnichannel strategy followed by most e-tailers to ramp up sales.
Pune-based hyperlocal delivery startup Tokri has raised a pre-Series A round of funding from Syska LED group. The firm has raised $2.5 million (around Rs 16.7 crore), with a commitment from Syska to put in more money. The funding will be utilized to upgrade technology in a bid to improve the customer experience and set up warehouses in Pune and other cities. A part of the money will also go into brand building and marketing.
Bengaluru-based Neonatal Care & Research Institute (NCRI), which runs Ovum hospitals for pediatric and neonatal care, has raised INR 33 crore from IL&FS Investment Managers Limited and Norwest Venture Partners. The company is the latest among mother-and-childcare hospital chains to get funding from venture capital and private equity investors in recent months.
EarlySalary, a fintech startup that offers personal loans, will raise $5-6 million in the coming months as it looks to expand its presence across cities like Hyderabad, Visakhapatnam and Jaipur.The Pune-based firm offers loans ranging from Rs 10,000 to Rs one lakh for a tenure of 7 to 30 days, operating on similar lines of salary advance, and charges an interest of about 2 per cent.
Pharmaceuticals and healthcare-focused private equity (PE) firm Fulcrum Venture India is planning a third fund which could attract as much as INR 700-800 crore. The firm is currently working on registering the new fund with the Securities and Exchange Board of India (Sebi), and the process is expected to be completed by end of the current quarter.