Livspace earmarks $100 million for strategic acquisitions🛋️
Omnichannel home interiors and renovation platform Livspace — which recently turned unicorn — has set aside $100 million, largely for acquisitions, as it looks to go deeper into existing geographies, add new categories and introduce more margins.
A significant part of this corpus will come from its $180 million fundraise, led by private equity major KKR, that was announced in February. The funding valued the company at $1.2 billion.
According to co-founder and chief executive Anuj Srivatsava, the company will look to invest in businesses across the home-improvement segment, such as partial renovation and supply of business-to-business (B2B) modular materials, to boost its topline. It will also look to invest in direct-to-consumer brands across furniture and other home-improvement categories.
Indian startups in focus as Tiger Global eyes $6 billion venture fund💰
New York-based investment fund Tiger Global, which is targeting a corpus of $6 billion for its new venture capital fund, sees India as a big part of its investment plans, according to a letter it sent to its limited partners or sponsors.
Tiger said that over the past few years it has invested a majority of PIP (Private Investment Partners LP) 15 in early-stage enterprise software and fintech firms in the US and India, where it continues to find the highest risk-adjusted returns.
Tiger cited India’s OfBusiness, a business-to-business (B2B) ecommerce firm for raw material procurement, as one such company in which it has a meaningful holding and that has grown quickly, with compelling margins. OfBusiness, which is also backed by SoftBank and Alpha Wave, is valued at nearly $5 billion.
Tiger Global has previously backed the likes of Flipkart, Delhivery, Ola, Zomato and many others. PIP 16 will be its 15th fund (it skipped Fund 13).
- Ecommerce-focused logistics firm Ecom Express has secured $39 million in funding from existing investors Warburg Pincus, CDC Group and Partners Group.
- Beauty marketplace Vanity Wagon has raised around $2 million in pre-Series A round at a valuation of $8 million co-led by Agility Ventures Partners and Lotus Herbals Private Limited.
- Eldercare startup Sarathi Healthcare raised Rs 1 crore in a seed round from ah! Ventures Angel Platform and other notable angel investors.
Snapchat rolls out in-app tool for parents of teenagers👻
Snap Inc, parent company of messaging app Snapchat, has launched a new in-app tool in India that provides parents insight into who their teens are friends with and talking to on Snapchat.
The company said parents of children in the age group of 13-18 would be able to see this without knowing the substance of those conversations. To avail this, the parents have to be friends with their children on the app and have an active account. They would be required to invite their teens to join the ‘Family Centre’.
Parents can also confidentially report any suspicious accounts directly on Family Centre, the company said.
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“Destiny doesn’t do home visits, you have to go for it yourself.”– Carlos Ruiz Zafón
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