Canada-based branded cosmetics and skincare products firm FACES Cosmetics Ltd, backed by the India-focused investor Everstone Capital Partners LLR, is looking to raise as much as INR 60-100 crore. The funding will be utilized to accelerate presence in India. Over the next one year, the colour cosmetic firm expects to expand to 100 cities from about 80 at present.
American technology firm IBM has acquired Bengaluru-based Sanovi Technologies for an undisclosed sum to bolster its cloud offerings. Sanovi provides hybrid cloud recovery, cloud migration and business continuity software for enterprise data centres and cloud infrastructure.
Early stage fund India Quotient as a part of its third fund, plans to raise $60 million by January/February 2017. The firm aims to spend 30% of the funds on fintech players within lending, insurance and investment sectors. The remaining portion of the funds will be spent on gaming, media, health and education.