A consortium of Chinese investors has acquired ad-tech venture Medianet for about $900 million in a rare reverse merger deal being touted as the largest in the sector. Media.net develops products for advertisers as well as publishers, providing them with an entire suite of services, including creating, targeting and evaluating advertising campaigns, as well as connecting publishers through their Yahoo-Bing network.
The newly set up RNT Capital Advisers, a venture fund launched by Tata Sons chairman emeritus Ratan Tata, will deploy $300 million across startups in India, Southeast Asia and the US. Headquartered jointly in Mumbai and Singapore, the fund will typically deploy $10-15 million of capital into companies and will back tech businesses.
Taking its interest in the digital health sector to the next level, tech giant Apple has quietly acquired personal health data startup Gliimpse founded by two Indian-origin entrepreneurs. Founded in 2013 Gliimpse provides a secure platform where consumers can manage and share their medical records and info.
TAC InfoSec Pvt Ltd, owned and operated TAC Security Solutions, a cyber-security solutions provider, raised an undisclosed amount in pre-series A round of funding from Vijay Kedia. Kedia will join the board as a non-executive independent director in the company, with the aim of helping TAC to expand the business globally.
Piramal Enterprises Ltd’s structured investment group (SIG) unit has agreed to invest INR 150 crore in Smaaash Entertainment Pvt Ltd, a sports-based entertainment company co-owned by cricketer Sachin Tendulkar. Currently, Smaaash has five gaming arcades in Mumbai, Bengaluru, Gurgaon, Noida and Hyderabad. The company is known for its arcades that feature sports such as cricket, football, paintball, go-karting and a host of virtual games. The funding will be utilized for expanding into newer cities in India as well as for overseas expansion.