Bengaluru-based fintech company ZestMoney has raised Series A funding led by Naspers-owned PayU. Existing investors, US-based Ribbit Capital and Omidyar Network, also participated in the round along with individual investors. The funding will be utlized for technology and product development.
Nazara Technologies Pvt Ltd, which operates mobile gaming firm Nazara Games, has launched an eSports league in India, for which it would invest roughly $20 million (INR 136 crore) over the next five years. eSports is a type of spectator sport with multi-player video game tournaments, especially among professional gamers.
Securities and Exchange Board of India (SEBI) has given approval to Bharat Innovation Fund to operate as a Venture Capital Fund. The company has secured Category – I Venture Capital Fund status from SEBI, to run their business. According to the norms, Category-I funds also get incentives from the government and regulators.
Mumbai-based entertainment ticketing portal BookMyShow has acquired a 75% stake in Pune-based DIY (do it yourself) event registration and ticketing platform Townscript in an undisclosed all cash deal. Townscript which has already provided its services to over 12,000 events across India, including smaller cities like Ludhiana and Jaipur focuses on the registration and ticketing needs of small and medium scale events such as office conferences, workshops, exhibitions, tech events and so on.
Coworking space provider Innov8 has raised an undisclosed amount in an angel round enabled by LetsVenture and Venture Catalysts. The round saw investments by prominent angel investors such as Vijay Shekhar Sharma of Paytm, Rajan Anandan of Google, Kunal Shah of FreeCharge, Girish Mathrubootham of Freshdesk and Anand Chandrasekeran of Facebook. The funding will be utilized to expand to metros including Mumbai, Noida and Gurugram.