BESSEMER
Quadria cap picks up minority stake in NephroPlus
NephroPlus, India's largest dialysis chain, has secured $103 million (₹860 crore) in a Series F funding round led by Quadria Capital. This funding, a mix of fresh capital and a secondary sale, aims to drive expansion plans within India and targeted markets overseas. The primary component of the funding is ₹100 crore. Quadria Capital will become a minority shareholder, valuing NephroPlus at over ₹2,000 crore. Existing investors like Bessemer Venture Partners, International Finance Corporation, and IIFL also participated in the funding round, reducing their stakes.
Innoviti Technologies to raise Rs 115 crore by April end
Innoviti Technologies secured funding for mid-market expansion, aiming for profitability by Sep 2024. It provides SaaS tools to enterprise brands like Reliance and plans to initiate IPO proceedings.
MoveInSync raises $15 million from Bessemer Venture Partners
MoveInSync, a cab-hailing service provider to enterprises, raised $15M in a Series C funding round from Bessemer Venture Partners. The funding will be used to drive the growth of MoveInSync One, a product that offers cost-effective and seamless commutes for employees. The company's operating model helps optimize electric vehicle utilization for employee commutes.
Quadria in talks to buy into dialysis chain NephroPlus
Quadria Capital, an Asia-focused private equity fund, is in talks to acquire a significant minority stake in India's largest dialysis chain, NephroPlus, valued at ₹2,000 crore ($250 million). Existing investors, Bessemer Venture Partners and International Finance Corporation, will exit by selling a 30% stake together, while Investcorp is likely to sell a small stake. NephroPlus, founded in 2009, operates 300+ dialysis centres in over 180 cities across four countries.
The next phase of growth and innovation for India’s SaaS sector
Against the backdrop of post-COVID dynamics, the Indian SaaS sector is positioned as a key player in driving digital transformation, with a multitude of factors shaping its future.
Bessemer, IFC looking to sell 30% stake in dialysis chain NephroPlus
The US-based Bessemer Venture Partners (BVP) and the World Bank's lending arm International Finance Corporation (IFC) are exploring the sale of about 30% stake in NephroPlus, said multiple people aware of the development. Bessemer and IFC will exit fully by selling about 30% stake together. However, the largest shareholder, Investcorp, is yet to decide on offloading its stake, added sources. Bahrain-based Investcorp owns about 40% stake in NephroPlus.
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Bessemer says India SaaS is on track to touch $50 billion by 2030
A significant chunk of the companies that will contribute to the $50 billion annual recurring revenue (ARR) tally will be ones who would not have exhausted any more than $100 million of equitybased capital by 2030, BVP partner Anant Vidur Puri told ET.
A $200 bn opportunity in India's B2B online marketplaces by 2030: Report
Factors such as rising internet penetration, favourable regulatory policies and growth of digital infrastructure will drive the growth in India's B2B online marketplaces.
Bessemer India Capital exits Home First Finance, sells 7.75% stake for Rs 467 cr
According to the bulk deal data available with the National Stock Exchange (NSE), Bessemer India Capital Holdings II sold a total of 68,11,313 shares, amounting to 7.75% stake in the company.
US venture capital firm exits Home First Fin via sale of 8% stake in open market
Transaction took place at a 7% discount to the stock’s previous market close. On the contrary, Fidelity Funds, Nomura Trust and Banking Co bought the co’s shares
Fintech SaaS firm Lentra raises $60 million in funding
The Pune-based company is expected to enter Indonesia, Vietnam and the Philippines by March next year and have an international presence across five geographies outside India by the end of 2023.
Billing startup Zenskar raises $3.5 million in funding led by Bessemer
Zenskar claims to have innovated system design and architecture to allow limitless flexibility. With a visual, drag-and-drop interface, non-technical users can configure any deal structure
Insurtech platform Zopper raises $75 million funding led by Creaegis
Zopper will use the capital to support international expansion, beef up the platform’s technology, and data engineering functions, and for strategic acquisitions.
Pepper Content appoints Harshit Vyas as Chief Business Officer
In his new role, Vyas will be driving hyper-growth in India and expanding revenue across all existing categories of the marketplace. Harshit Vyas’s appointment comes as part of Pepper Content’s efforts to continue to invest in and attract world-class talent, in the wake of a global digital ecosystem boom.
Pepper Content raises $14.3 million funding led by Bessemer Venture Partners
Bessemer Venture Partners’ has backed startups like Urban Company, Swiggy, BigBasket, Pinterest, LinkedIn, and more
Need for ARR-based valuation amid unicorn 'hype,' says BVP report
“At $100-m ARR, Centaur [denoting a new breed of firms having crossed $100-m revenue milestones] businesses have product-market fit, scalable go-to-market strategy, and a growing customer base,” as per the report.
Diagnostic platform 5C Network brings on board Anand Iyer as COO
With over three decades in multinational corporations as well as reputed startups, Iyer has led the sales function for several leading companies in India and Asia, including a US$ 400 million Asia business for a Fortune 1000 company. His experience spans across multiple industries including IT, medical and power electronics, telecom, internet and mobile software technologies.
Perfios raises Rs 520 crore from Warburg Pincus, Bessemer
The proceeds of the funding will be used for financing the acquisition of other companies, capital expenditure, and working capital requirements, Perfios said in its regulatory filings.
B2B payments fintech Rupifi raises $25 million funding led by Tiger, Bessemer
The company now plans to use the proceeds from the fundraise to build the complete B2B checkout product for marketplaces as well as launch omnichannel mobile-first B2B payments solutions for merchants, distributors and sellers.
Dialysis chain NephroPlus raises Rs 182 crore in Series E round
The fresh capital will be used by the Hyderabad-based company to pursue growth opportunities across India and select International markets.
Bessemer Venture Partners raises $220 million India-focused fund
Bessemer Venture Partners, one of the oldest early-stage investors in the region, has for the first time raised a dedicated India-focused fund of $220 million. The company first started investing in India 15 years back.
Livspace forms JV with Alsulaiman Group; invests $50 million for expansion in MENA
Livspace - which has raised funds from Kharis Capital, Bessemer Ventures and others - brings homeowners, design professionals, vendors and brands together on a single tech-led platform.
Leena AI gets $30 million funding from Bessemer, B Capital
The funding will help enterprise SaaS startup Leena AI launch new products, enter new geographies like North America and Europe, and hire talent for marketing and sales.
Technological hurdles plague digital payment industry: Innoviti
Growing at a compounded rate of over 50% YoY, India's digital payment adoption has seen an accelerated growth during the Covid-19 pandemic.
Financial firm set to manage Britney Spears's estate asks to withdraw from conservatorship case
The company asked a LA court to withdraw from the case after the superstar's testimony.
Bitcoin hits highest level in two weeks as big-money bets flow
On Monday, NYDIG, a provider of Bitcoin-related financial services, announced that it raised $200 million from investors including Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual and Soros Fund Management.
MediBuddy closes $40 million funding round
MediBuddy's e-health platform enables customers access the entire gamut of healthcare services like tele-consultation services, lab tests or medicines, across devices.
Warburg Pincus to acquire 30% stake in Home First Finance
In this secondary round, existing investors True North Capital, and Bessemer Ventures will sell part of their stake to Warburg. Home-grown private equity firm True North Capital, along with co-investor GIC owns about 74% of HFFC. Another 16% stake is held by VC fund Bessemer Ventures, and the rest is with the management.
Perfios raises $50 million from Warburg Pincus, Bessemer
The mix of primary and secondary capital has given an exit to some of its angel investors.
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