Smart devices maker Xiaomi Inc is scouting the Indian market to invest in mobile technology start-ups and to forge partnerships with local content creators as part of its strategy to build an ecosystem around its products in the country. The Chinese firm sells smartphones, tablets, fitness bands, power banks and Bluetooth speakers in India. It has plans to introduce its brand of air purifiers and smart television sets in India.
Myntra, the online fashion store owned by Flipkart, acquired a 51% stake in HRX, the lifestyle brand co-owned by Bollywood actor Hrithik Roshan and Exceed Entertainment. Flipkart has also committed further investment in the brand for expansion in categories like inner ware and men’s grooming
Agritech venture Crofarm has raised seed funding from Mukul Singhal and Rohit Jain, former principals at SAIF Partners, who have backed the company which aims to create a supply chain which links farmers with businesses. The startup plans to establish presence in tier-2 markets and hope to operate in 10 cities over the next year.
Gurgaon-based Cuberoot Technologies, a data-driven technology company, has raised nearly $500K from undisclosed investors. The funding will be utilized to expand business across the country. The money will further be used for scaling up growth parameters such as expansion of the technology team, enhancing product technology, investing in better infrastructure and strategic acquisitions, etc.
Online lingerie brand Buttercups Intimates Pvt Ltd has raised a pre-series A funding from online marketplace Snapdeal’s former chief product officer Anand Chandrasekaran, and its existing angel investors Kanwaljit Singh and Manoj Varghese. The funding will be utilized to expand the product range.