Jewellery e-commerce marketplace Johari Shop has raised $94,000 from three angel investors, including a diamond exporter and a high net-worth individual, to power its omni-channel efforts. The funding will be utilized to work on its omni-channel strategy that would start with the launch of its first brick-and-mortar store in Bangalore’s VR mall.
Ed-tech startup NeoStencil India Pvt Ltd has raised $1 million in a funding round led by media house Times Group’s ad-for-equity investment arm Brand Capital and California-based Paragon Trust. A one-stop destination for UPSC preparation, the company provides live as well as recorded classes, test series and study material from top civil services institutes and teachers in the country. The platform also features discussion forums and counseling facility for students.
Bengaluru-based cab-hailing firm Ola, run by ANI Technologies Pvt Ltd, has raised $330 million (INR 2,200 crore) in fresh funding led by existing investor SoftBank Group Corp. It is reported that the Japanese tech giant and two other existing investors participated in the round, but the cab aggregator’s valuation dropped 30% from $5 billion to $3.5 billion.
Deepak Shahdadpuri-led early-stage investment firm DSG Consumer Partners has achieved the final close of its second fund at $40 million(INR 267 crore). The second fund, DSGCP II, aims to make 20 investments. It will focus on companies in India and Southeast Asia, and will deploy the entire corpus by mid-2018.
Sidbi has cleared sanction requests of nine funds aggregating INR 300 crores in a recent meeting, showing a significant upsurge in the fund of funds operations focused on MSME and startups. Sidbi as manager of these funds has constituted a Venture Capital Investment Committee (VCIC) which includes external experts Mohandas Pai, Sanjeev Bikchandani, Saurabh Srivastava, HK Mittal, Vaidyanathan, Kiran Karnik.