Education financing marketplace GyanDhan has raised an undisclosed angel round of investment led by Stanford Angels and Entrepreneurs. The platform which provides loans to Indian students to fund their education abroad claims to have disbursed Rs 10 crore since its inception in May 2016.
Billionaire investor Ajay Piramal has pumped in an undisclosed sum to pick up a minority stake in serial entrepreneur C Sivasankaran’s comeback business Utoo Cabs, a cab aggregator. The technology venture has been initially backed by funding from family and close friends. Utoo was soft launched last month in Chennai and will soon provide services in 8 cities.
SirionLabs Pvt. Ltd, an enterprise software-as-a-service provider that helps companies manage services contracts, has raised $12.25 million (Rs 82 crore) in a Series B round led by existing venture capital investor Sequoia Capital. The funding will be utilized for research and development perspective-to deepen the product’s functionality and increase the levels of automation and artificial intelligence.
Naspers backed ibiboGroup has acquired a majority stake in Peruvian bus-ticketing platform, Busportal, for an undisclosed amount. With this acquisition, ibibo’s in-house bus ticketing platform redBus will gain entry in the Latin American market, after it started operations in Malaysia and Singapore.
Online fashion player Myntra has acquired Bengaluru-based Cubeit for an undisclosed amount. Cubeit focuses on building mobile applications that allows users to aggregate content from any given location. As part of the acquisition, the team at Cubeit has been inducted into Myntra, making it an Acqui-Hire that will further strengthen and expand Myntra’s technology team.