Indian mobile handset brand, Micromax will reportedly set up an independent fund to invest in consumer Internet companies worldwide. The fund is expected to raise up to $100 Mn (INR 680 Cr). Micromax will be the lead investor in the fund. The fund will invest in 10-12 startups with a $3 Mn-$5 Mn ticket-size. The new fund, Orbis Capital, is likely to raise money from private equity firms and pension funds, etc.
Hyderabad-based consulting organisation Sathguru Management Consultants is raising $100 million to start an Innovation in Food and Agriculture Fund (IFAF) that will be managed by their fund management company Sathguru Catalyser Advisors. They plan to invest approximately $8 million each in 8 to 12 companies for a significant minority stake. The fund is on a lookout for companies that are engaged in adopting technology solutions to address complex issues impacting agriculture, food and nutrition in India, with the first deal expected to close by mid-2017.
TravelTriangle, an online marketplace for discovering travel agents, has raised $10 million, or about INR 67 crore in a fresh round of funding led by Singapore-based venture capital firm RB Investments. The company plans to use the proceeds from the latest funding round to further build on its offerings to consumers, including, providing price estimations and multiple payment options, and improve upon its big data algorithms for travel agents on the platform.
Kolkata-headquartered iManageMyHotel Technologies Pvt Ltd, which provides cloud-based property management solutions for mid-sized hotels, has raised an undisclosed amount from Jaarvis Accelerator.The money will be used to expand our presence in more cities, including Delhi-NCR, Bangalore, and Mumbai.