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News on Medial
After Raising $88 Mn, Melorra May Sell For Pennies On The Dollar
Inc42
·
9m ago
Medial
- Negotiations ongoing for potential acquisition of Melorra - Valuation of the deal still being discussed - Melorra has reportedly stopped paying salaries - Talks held with multiple buyers - Melorra has raised over $88 Mn in funding to date
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Senco Gold in advanced talks to buy Melorra as it takes a shine to e-commerce
Livemint
·
9m ago
Medial
- Kolkata-based jeweller Senco Gold is looking to acquire omnichannel jewellery retailer Melorra to expand its e-commerce presence. - The deal is expected to be valued at ₹40-50 crore, but the final valuation is still being negotiated. - Senco is one of several potential buyers Melorra has been in talks with, as the company is in need of capital. - Due diligence is currently underway and the deal will be confirmed upon satisfactory completion of the process. - Senco has been focusing on boosting its online sales and derived about ₹30 crore of its revenue from e-commerce. - Melorra, founded in 2015, has raised about $88 million in equity funding but has been facing financial difficulties, with rising losses and cash outflows.
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ChrysCapital, LP co-investors set stage for nearly $800-mn exit
VCCircle
·
1y ago
Medial
ChrysCapital, along with its co-investors, is preparing for a potential exit worth nearly $800 million. The private equity firm, known for raising the largest sector-agnostic fund in India, has been active in making new deals and has now decided to sell one of its portfolio companies after backing it for five years.
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Exclusive: BlueStone To Raise $9 Mn Debt Funding From Trifecta Capital
Inc42
·
1y ago
Medial
BlueStone, an omnichannel jewelry startup, is raising $9 million in debt from venture capital firm Trifecta Capital. The funding will be used for business operations and expansion plans. BlueStone aims to go public and raise approximately INR 2,000 crore through its initial public offering (IPO). The startup offers over 8,000 jewelry designs and competes with CaratLane, Melorra, and GIVA in the market. Its net loss, excluding one-time expenses, increased by 183% to INR 167 crore in FY23, while operating revenue rose by 67% to INR 771 crore.
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Google to receive punishment for search monopoly by next August, says judge
TechCrunch
·
10m ago
Medial
A federal judge will deliver a punishment in Google's antitrust case by August 2025 after ruling that the tech giant abused its monopoly power over the search industry. The judge established a timeline for the remedies phase of the trial, with prosecutors having until the end of the year to submit proposals that could potentially require Google to sell off parts of its business or address its billion-dollar payments to Apple for priority placement. The outcome of the case may be influenced by the upcoming U.S. presidential election and possible discussions on regulatory changes.
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Apis Partners scripting nearly $300 mn showcase India exit
VCCircle
·
1y ago
Medial
Private equity firm Apis Partners has decided to sell its showcase India portfolio company as part of its strategy to focus on financial services and fintech in Asia and Africa. The UK-based firm, which is in the process of raising its third fund, aims to increase its total assets under management to around $1.4 billion. The decision to sell the portfolio company aligns with Apis Partners' investment goals and growth plans in the region.
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Markets rebound as inflation eases, India favoured again
Inshorts
·
2m ago
Medial
Markets bounced back Wednesday as retail inflation fell to 3.16%, metal and IT stocks rallied, and fund managers picked India as Asia's top stock market. The Sensex rose 182 points, Nifty gained 88, while mid and small caps outperformed. A soft dollar and easing global oil prices added to the positive sentiment.
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BYJU’S’ US bets Epic, Tynker sold for pennies on the dollar
YourStory
·
1m ago
Medial
BYJU’S, once a prominent Indian edtech company, faces ongoing difficulties as it battles insolvency. The company sold two US subsidiaries, Epic! and Tynker, at significant losses to recoup funds, after acquiring them for $500 million and $200 million, respectively, in 2021. The sales were finalized through a Delaware bankruptcy court auction. These sales highlight BYJU’S financial issues, including a $1.2 billion loan default and accusations of fraudulent financial activities.
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Exclusive: Logistics & Distribution Startup Ripplr To Raise $4.7 Mn Debt From Northern Arc
Inc42
·
1y ago
Medial
Bengaluru-based startup Ripplr is raising INR 40 Cr ($4.7 Mn) in debt from IPO-bound Northern Arc. This comes after the company raised INR 6 Cr in debt from venture debt firm Trifecta Capital last month. The funding round is expected to consist of 400 non-convertible debentures (NCDs). Ripplr previously raised $40 Mn in a Series B funding round in May 2020.
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What's at stake for global markets in a Trump presidency
VCCircle
·
8m ago
Medial
A Trump presidency is expected to have various impacts on global markets. The U.S. dollar is likely to strengthen due to higher inflation and growth expectations. Tariffs and a skeptical stance towards multilateral institutions could depress growth elsewhere in the world, boosting the dollar's appeal. Stock sectors such as banks, technology, defense, and fossil fuels may benefit from Trump's promises of less regulation and lower taxes. However, protectionist policies and trade tensions may negatively affect multinational companies. Trump's spending plans could increase U.S. government debt, leading to higher borrowing costs. In commodities, U.S. oil and gas drilling is likely to expand, keeping prices relatively low, but oil sanctions on Iran could trim global crude supply. Emerging markets may be impacted by tariffs and tighter monetary policies in response to a Treasuries sell-off and dollar rise. Trump's deregulatory agenda could boost shares in oil and gas drilling and coal mining sectors but hinder sustainable investments.
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Chrys Cap, Kedaara prepare their biggest funds ever
Livemint
·
1y ago
Medial
Homegrown private equity firms ChrysCapital and Kedaara Capital are raising billion-dollar-plus funds in 2024 to compete with Asian and global rivals. ChrysCapital aims to raise $2-2.2 billion for its tenth fund, while Kedaara is targeting $1-1.5 billion for its fourth fund. These larger funds are needed to accommodate the growing investment sizes in Indian startups. ChrysCapital may increase its investment ticket size from $100 million, and Kedaara may cut larger cheques of $150 million from the new fund. Global funds are also increasing their allocations to India, presenting more opportunities for investment.
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