Makemytrip and Ibibo have agreed to merge in a stock transaction, representing the coming together of India’s largest travel booking portals and presaging what many believe is an impending consolidation in the country’s consumer internet sector. The transaction estimated it at about $1.8-$2 billion.
TVS Capital’s chairman Gopal Srinivasan and financial services industry veteran Narayan Seshadri have picked a majority stake in International Money Matters Pvt Ltd (IMMPL), a Securities and Exchange Board of India (SEBI)-registered financial planning and investment adviser with assets under management of around INR 850 Crore.
Delhi-based solar marketplace MYSUN, run by Eastern Light and Power Pvt Ltd, has raised funding from General Catalyst Partners, a US-based venture capital firm focused on early stage and growth investments. The funding will be utilized to scale up faster and invest in technology and infrastructure.
Ganesh Natarajan, former chief executive officer of Zensar Technologies Ltd and chairman of Nasscom Foundation, has invested an undisclosed amount in Studio Coppre, an online retailer and manufacturer of handcrafted copper artwork. The funding will be utilized for design enhancements and low-cost automation for development and quality assurance.
BabyChakra, which connects parents to services and products for babies, has raised an undisclosed amount of funding in its Series A round from RoundGlass Partners, a Seattle-based investor. The funding will be utilized for product development, hiring and creating localized content.