Scale Ventures’ The India Network – a platform aimed at boosting startup activity in Tier II and Tier III cities – has acquired Udaipur-based MagicSpace – a coworking space company in a part cash and part equity deal.Post-acquisition, founder Vinav Bhanawat will join The India Network as a co-founder. While another co-founder Pallav Nahar will hold part equity for the coworking space.
Healthcare and wellness startup Poshtick said on Saturday it has raised $450,000 (Rs 3 crore) in angel funding from Noida-based affluent individuals Bhavya Sharma and Amit Nagar. The funding will be utilized for product development, developing human resource capabilities and supply chain mechanism
Big Fish Ventures, a Delhi-based restaurant business that runs dining lounges including The Junkyard Cafe, The Vault Cafe, Garam Dharam and Cafe OMG, is planning to expand the business from its current seven to 15 restaurants in the next two years across India and the Middle East. In the longer run, the company plans to open 40.
Ant Farm India-backed digital media company Fork Media has acquired a majority stake in Pune-based ad-tech firm Inuxu Digital Media Technologies. The mixed cash-and-equity deal of $3 million gives Fork Media 51 per cent equity in Inuxu, which will continue to work as an independent entity developing products for Fork Media.
From used-car marketplace Droom to industrial goods e-commerce website Industry Buying and Bangkok-based, Indian-run Zilingo in its portfolio BeeNext aims to do an investment a month until the end of this year. The cheque size varies from $200,000 to $5 million and with the recent deflation in the valuation bubble.