GSC, PhonePe raise funds; Balrampur Chini invests in education-dedicated NBFC Auxilo Finserve
Emerald Media, a pan-Asia company backed by global investment firm KKR, announced it had acquired a significant minority stake in Global Sports Commerce (GSC), a leading sports technology and management company, through a combination of primary and secondary investments. The aggregate investment of $80 million will include the secondary purchase of Asia-focused private equity firm FidelisWorld’s stake in Techfront, and the primary growth capital.
Delhi-NCR based Hoi Foods is a food brand for budget hotels, and brings good quality and standardised food experience to budget hotels in India. It works closely with hotel kitchens and ships them pre-prepared meals daily. They are working towards bringing consistent, hygienic and premium food experience to the budget hotel guests in the region.
Auxilo Finserve Pvt Ltd, an education-dedicated NBFC, announced it has raised roughly $5.75 million, or Rs 37.5 crore, from Balrampur Chini Mills Ltd, one of the country’s largest integrated sugar manufacturing companies. With this, Balrampur Chini and Aakash Bhansali - who leads the principal investments unit of Enam Holdings - have become equal shareholders in the company.
Flipkart digital payment platform, PhonePe secured fresh funding of Rs 518 crore from its Singapore parent firm, documents filed with the Registrar of Companies(RoC) showed. Flipkart Payments Private Ltd was allocated 24,56,066 of PhonePe shares of Rs 2,110 each.
Google is close to acquiring Silicon Valley-based imaging startup Lytro, which built the world’s first light field camera, owns several patents in VR-related imaging technology. Google could use it to fend off competition from Facebook-owned Oculus.