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News on Medial
SoftBank back at deal counter with Icertis deal talks
Economic Times
·
1y ago
Medial
SoftBank, the renowned technology investor, is reportedly considering new deals in India after focusing on exits last year. The Tokyo-based firm is in early talks to increase its investment in software firm Icertis, which is seeking $150 million in a new funding round. Other existing investors may also participate. Additionally, SoftBank's Vision Fund is looking to invest in e-commerce firm Meesho as part of a broader funding round. SoftBank is actively reviewing potential investments after a period of inactivity. The valuation and pricing of the deals are still under discussion.
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Related News
SoftBank In Talks To Double Down On Software Portfolio Firm Icertis
Inc42
·
1y ago
Medial
Japanese conglomerate SoftBank is reportedly in discussions to increase its investment in Indian software firm Icertis. Icertis is looking to secure around $150 million through a secondary share sale and SoftBank is considering increasing its stake in the company. Other existing investors are also considering upping their investment. SoftBank has been preparing to invest in Indian startups again after a hiatus of around 18 months, and plans to focus on new-age companies and strengthen its portfolio in the Indian market. SoftBank has invested a total of $15 billion in India and its investment portfolio is up 9% as of December 2023.
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SaaS unicorn Icertis to raise $50 Mn
Entrackr
·
4m ago
Medial
US-based contract management SaaS firm Icertis is set to raise $50 million in a new funding round, according to a Form D filed with the US Securities and Exchange Commission (SEC). The filing did not disclose the names of the investors. Last year, an ET report indicated that SoftBank was likely to invest in Icertis' new funding round, which might conclude at $150 million. This round follows Icertis' previous $150 million funding in October 2022 consisting of a revolving credit facility and convertible financing from Silicon Valley Bank. Icertis is an enterprise contract management software provider offering AI-powered solutions to enhance risk management, compliance, and efficiency across departments like finance, legal, procurement, and sales. According to startup data intelligence platform TheKredible, Icertis has raised $522 million prior to this round, including both debt and equity, from investors such as Silicon Valley Bank, B Capital, Premji Invest, and others. Icertis became a unicorn in July 2019 after raising $119 million in its Series E round led by Premji Invest. It was last valued at around $5 billion. In India, the company is headquartered in Pune. Icertis Indian entity reported 33% growth in its operating revenue to Rs 863 crore in FY24 from Rs 649 crore in FY23. The company registered Rs 97 crore profit in FY24 compared to Rs 71 crore in the previous fiscal year.
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Blackstone, Temasek, Bain eye Haldiram; SoftBank may double down on Icertis
VCCircle
·
1y ago
Medial
Blackstone, Temasek Holdings, and Bain Capital are reportedly considering the purchase of a controlling stake in Haldiram Snacks Food Pvt Ltd. The private equity firms aim to secure a minimum 51% stake in the sweets-and-savouries manufacturer, valuing the company at $8-10 billion. Meanwhile, SoftBank is said to be considering increasing its investment in Icertis, a contract management software provider.
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Ultrahuman in talks with WestBridge to raise $100-120 million after SoftBank deal falls through
Economic Times
·
3m ago
Medial
After its deal with SoftBank fell through, Ultrahuman, a Bengaluru-based smart wearables company, is in talks to raise $100-120 million from WestBridge Capital, potentially valuing the firm at $500-550 million. The capital will likely support its international expansion, including a new factory in the US. Previously, a $35 million round led by Blume Ventures and Nexus Venture Partners valued the company at $125 million. Ultrahuman reported $80 million revenue in 2024, with future targets set.
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Icertis appoints Anand Subbaraman as CEO, co-founder Samir Bodas moves to executive chairman role
Entrackr
·
13h ago
Medial
Icertis appoints Anand Subbaraman as CEO, co-founder Samir Bodas moves to executive chairman role Contract management platform Icertis has appointed Anand Subbaraman as its new chief executive officer, replacing cofounder Samir Bodas, who will transition to the role of executive chairman. Bodas will continue to be actively involved in shaping the company’s strategy and governance. Subbaraman brings over 25 years of global enterprise software experience, with prior roles including President at BrowserStack, General Manager for Core and Retail Banking at Finastra, and product leadership at Oracle. Icertis offers a cloud-based contract lifecycle management (CLM) platform that enables enterprises to create, manage, and optimize contracts. The platform uses AI-powered analytics to extract insights, ensure compliance, and improve business outcomes from contractual agreements. Icertis operates on a subscription-based SaaS model, generating recurring revenue by licensing its platform to large enterprises globally. According to startup data intelligence platform TheKredible, Icertis has raised $522 million to date and it’s in the process of raising another $50 million. Icertis became a unicorn in July 2019 after raising $119 million in its Series E round led by Premji Invest. It was last valued at around $5 billion. In India, the company is headquartered in Pune. Icertis Indian entity reported 33% growth in its operating revenue to Rs 863 crore in FY24 from Rs 649 crore in FY23. The company registered Rs 97 crore profit in FY24 compared to Rs 71 crore in the previous fiscal year.
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SoftBank India scores over $5.5 billion exits since 2018
Livemint
·
1y ago
Medial
SoftBank Vision Fund has about $3 billion of its $11 billion investments in Indian startups set for exits, with $1.5 billion being booked in the last 12-18 months. The firm expects to see one or two exits every year as its portfolio matures. Most investments made by the fund in India have had up-rounds from marquee investors. Companies like FirstCry, Lenskart, OfBusiness, Swiggy, Icertis, and Ola Electric are potential candidates for public listings. SoftBank shifted to "offensive mode" in AI and tech-first investments after a period of losses in the tech markets.
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SoftBank Vision Fund top boss Rajeev Misra to step down
Economic Times
·
8m ago
Medial
Rajeev Misra, the top Indian dealmaker at SoftBank, is stepping down from his leadership roles at the Japanese fund's flagship investment vehicles. Alex Clavel will become the sole CEO of SoftBank Investment Advisers and SoftBank Global Advisers. Misra will no longer have any operational or management role at SoftBank. This transition comes after Misra's decision in August 2022 to step back from his roles as CEO and executive vice president of SoftBank Group. He has since founded One Investment Management with a $7 billion corpus.
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Exclusive: Pegatron in talks with Tata to sell its only India iPhone plant, sources say
Reuters
·
1y ago
Medial
Taiwan's Pegatron is reportedly in advanced talks to hand over control of its only iPhone manufacturing facility in India to the Tata Group. Under the deal, Tata plans to hold a majority stake in a joint venture that will operate the Pegatron plant near Chennai, with Pegatron providing technical support. This move marks a scale-back of Pegatron's partnership with Apple. Apple is looking to diversify its supply chain beyond China, while the deal will bolster Tata's iPhone manufacturing plans. The talks are expected to close in six months.
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SoftBank likely to sell shares worth up to $105 million in PB Fintech: report
Economic Times
·
1y ago
Medial
SoftBank is considering selling shares worth up to $105 million in PB Fintech, the parent company of PolicyBazaar, as it looks to monetize its investments and shore up its finances, according to a report. SoftBank has been hit hard by investments like WeWork and Uber and is now aiming to bring its balance sheet back on track. The potential deal comes as PolicyBazaar is preparing for an IPO later this year.
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Trump Unveils $500Bn ‘Stargate’ with Sam Altman, SoftBank to Tackle China’s AI Advancements
OutlookIndia
·
6m ago
Medial
Donald Trump announced the launch of a $500 billion venture called 'Stargate' to enhance AI infrastructure in the U.S., aiming to counter China's AI advancements. Supported by SoftBank, OpenAI, and Oracle, the project plans to invest over four years, with $100 billion already deployed. It aims to ensure U.S. leadership in AI and create strategic capabilities for national security. Elon Musk doubted the project's funding capacity, while Stargate moves forward with initial partners SoftBank and OpenAI.
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