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News on Medial
ChrysCapital-backed Livguard acquires e-mobility startup
VCCircle
·
1y ago
Medial
LivGuard Energy Technologies, backed by ChrysCapital and Ncubate Capital Partners, has acquired electric mobility startup Emuron Technologies. The financial terms of the transaction were not disclosed. Emuron Technologies specializes in battery swapping and IoT solutions for two- and three-wheel electric vehicles. LivGuard plans to utilize Emuron's battery swapping technology and combine it with their expertise to become a one-stop-shop for EV original equipment manufacturers. LivGuard received funding of INR 220 crore in 2019.
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VanMoof makes a move: Lavoie acquires the e-bike startup out of bankruptcy and plans to relaunch it
TechCrunch
·
1y ago
Medial
Lavoie, a division of McLaren Applied, has acquired e-bike startup VanMoof out of administration for a price in the "tens of millions" of dollars. VanMoof had raised over $200 million as a venture-backed startup but struggled with glitches and costly servicing, leading to its bankruptcy earlier this year. Lavoie plans to invest in the brand and relaunch the business, using its urban mobility expertise to transform VanMoof's operations.
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Xoriant acquires MapleLabs to expand its platform engineering capabilities
Economic Times
·
1y ago
Medial
US-based consulting and IT services firm Xoriant has acquired Bengaluru-based product engineering firm MapleLabs. The acquisition aims to enhance Xoriant's capabilities in platform engineering, product development, and cloud native applications. MapleLabs brings expertise in hybrid cloud infrastructure, observability, and Site Reliability Engineering (SRE). The financial details of the deal were undisclosed. Xoriant, backed by private equity firm ChrysCapital, aims to strengthen its position in the digital engineering space and provide innovative solutions to its global clients. This is Xoriant's second acquisition following the acquisition of Bengaluru-based consulting firm Thoucentric in 2023.
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ChrysCap-backed Eris Life acquires Biocon Biologics' India formulations business
VCCircle
·
1y ago
Medial
Mumbai-based pharmaceutical company Eris Lifesciences, backed by private equity firm ChrysCapital, is set to acquire Biocon Biologics' India branded formulation business for $150 million. The deal, including insulin brands Basalog and Insugen, is expected to be finalized by 15 April, 2024. Eris aims to strengthen its diabetes care franchise and expand into the oncology and critical care sectors. The acquisition also includes a 10-year supply agreement with Biocon Biologics. This move follows Eris's previous acquisitions in the neuropsychiatry and dermatology sectors. Eris Lifesciences operates with a domestic-branded formulations business model and has a distribution network of over 2,000 stockists and 500,000 chemists.
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A91, MO Alts join race for stake in HealthKart; Dashtoon eyes fresh funds
VCCircle
·
1y ago
Medial
A91 Partners and Motilal Oswal Alternates have joined ChrysCapital in the race to acquire a stake in HealthKart as Peak XV Partners plans to exit the Temasek-backed startup. The investment round will mainly consist of secondary components, but may also include some primary components. Talks are ongoing, with A91 Partners seeking to increase its existing stake.
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Amit Jain's CarDekho acquires Revv; enters shared mobility
IndianStartupNews
·
1y ago
Medial
Jaipur-based autotech firm CarDekho Group is acquiring a majority stake in Gurugram-based self-drive car rental startup Revv for an undisclosed amount. This move marks CarDekho's entry into the shared mobility space, aligning with its strategy to integrate technology into its operations. CarDekho aims to create a complete automobile ecosystem with a seamless customer experience by incorporating Revv's shared mobility services into its portfolio. Revv, operating in 22 cities with a fleet of over 3,500 cars, was valued at $138 million as of October 2019.
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Uber says firm to explore integration with India's ONDC
TechCrunch
·
1y ago
Medial
Uber has announced a partnership with the Open Network for Digital Commerce (ONDC), a government-backed program in India that aims to enhance accessibility to mobility and e-commerce services nationwide. The ride-hailing company plans to integrate with the ONDC network and expand its range of offerings on the Uber app. Although the ONDC has struggled to attract participation from major players like Amazon and Flipkart, the partnership with Uber is expected to foster innovation and bring diverse mobility solutions to Indian consumers.
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ChrysCapital-backed ResultsCX buys UK consulting firm
VCCircle
·
1y ago
Medial
ChrysCapital-backed customer experience management services provider, ResultsCX, has acquired UK consulting and customer solutions company, Huntswood. With a workforce of 6,000 professionals in the UK and Europe, ResultsCX aims to enhance its digital-first operations and expand service capabilities in the BFSI sector. The acquisition also helps establish a presence in South Africa for offshoring operations. ChrysCapital, with $6 billion assets under management, sees this acquisition as a way for ResultsCX to solidify its presence in the UK market and secure a prestigious client portfolio.
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ChrysCapital’s Kshitij Seth on PE firm’s $5 Bn India investment playbook
Inc42
·
1y ago
Medial
ChrysCapital, a prominent private equity firm in India, has witnessed a significant shift in its investment strategy over the past two decades. Initially focusing on stable businesses in sectors like financial services, healthcare, and IT services, the firm has now shifted its focus to the new economy, including sectors such as finTech, consumer tech, and internet services. ChrysCapital invests in startups at a later stage of growth, typically during series D or E funding rounds, with a focus on profitability and a potential for listing. The firm aims to add value to its portfolio companies through mentorship and guidance to prepare them for going public. Additionally, ChrysCapital has recently raised funds for a new alternative investment fund named Clarus, which aims to identify investment opportunities across various sectors and company sizes.
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KKR-controlled LEAP India acquires supply chain firm CHEP India
VCCircle
·
7m ago
Medial
LEAP India, backed by private equity firm KKR, has acquired CHEP India Pvt. Ltd, a supply chain company. The acquisition, whose financial details were undisclosed, includes CHEP's assets, customer base, and team. This move aims to expand LEAP's services in FMCG, automotive, retail, and e-commerce sectors. LEAP India's founder, Sunu Mathew, stated the integration would drive sustainable growth and enhance customer experiences. LEAP India now operates 33 warehouses with over 11 million assets and 6,000 customer touchpoints.
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Power electronics startup Dynolt Technologies raises Rs 14.7 crore from Transition VC
Economic Times
·
5m ago
Medial
Dynolt Technologies, a power electronics startup, has secured $1.7 million in seed funding from Transition VC and angel investor Yashowardhan Shah. The funds will be used to expand into mobility and sectors like solar and hydrogen, developing high-power chargers and converters. Founded in 2022 by IIT alumni Rajesh Sura and Teja Kumar, the company aims to lead in power electronics for e-mobility and clean energy. They have over 14,000 deployed converters in India, partnering with various clients.
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