Lee Fixel bids adieu to Tiger Global; Innoviti raises Rs 80 Cr
After spending over a decade as the Head of Tiger Global’s private equity business, Lee Fixel will leave the firm on June 30. One of the most prominent tech investors in the Silicon Valley, Fixel was instrumental in backing Flipkart and Ola. He is said to be moving on to manage his own money, and “may start an investment firm in the future.” With this surprise departure, Scott Shleifer will take over as the head of Tiger Global’s private equity business unit.
Innoviti raises debt capital of Rs 80 cr
Innoviti Payment Solutions has raised Rs 80 crore ($12 million) through a combination of debt, venture debt, and asset financing. The latest round was led by Trifecta Capital and a clutch of other NBFCs. According to the company, this debt funding will support Innoviti’s business expansion needs like purchase of infrastructure, including servers and terminals, and other product development capital expenses.
Set your favourite video as your ringtone using this app
Vyng app is looking to transform how conversations start on mobile by bringing emotion to your lock screen. The very name, ‘Vyng’, is an amalgamation of the words video and ring, rhyming with ‘ring’. It basically allows users to browse and choose their favourite videos as ringtones. The app has a big library of videos to choose from, and its Indian version includes a range of Bollywood songs as well as vernacular songs in Tamil, Bengali, Punjabi, etc.
Why Lightbox chose Nua for its first investment?
On the face of it, Nua is a company that makes sanitary pads that can be ordered online in customised packs for different types of flow. Scratch the surface, and you’ll find that it isn’t – and doesn’t plan to be – a product company. The sanitary pad was just the starting point, their goal is take into account the social, emotional, cultural context, starting with the topic of menstruation today and wellness tomorrow. And the fact that Nua knew its customers so well had the folks at Lightbox hooked.
Swiggy delivers Rs 14 Cr in benefits to 55,000 partners
Under its 'Ride to Your Dreams' theme for its delivery partners, Bengaluru-based foodtech unicorn Swiggy has deployed its Swiggy Smiles programme to 55,000 of its fleet of 1.25 lakh delivery partners in a year. The team claims that delivery partners have availed benefits worth Rs 14 crore, and a host of rewards in shopping, education, and upskilling. Swiggy Smiles focusses on welfare, development and motivation for its delivery partners.