PhysicsWallah plans for M&As👨🏻🏫; Money View bags $75 mn💸; Advent to buy into Suven Pharma💊
PhysicsWallah earmarks $40 million, Money View bags $75 mn, Advent to buy into Suven Pharma, Funding Deals and more.
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PhysicsWallah earmarks $40 million for M&As👨🏻🏫
Westbridge Capital-backed PhysicsWallah entered the upskilling segment with the acquisition of Bengaluru-based iNeuron.ai last week.
But the purchase is just one part of PhysicsWallah’s strategy, as the company, led by co-founder Prateek Maheshwari and the strategy team, aims to become a full-stack edtech company through multiple acquisitions.
Since raising $100 million in its Series A funding round in October and achieving unicorn status in its maiden fundraising, the PhysicsWallah team has been actively seeking acquisitions to fuel the company’s expansion.
After the fundraising, PhysicsWallah acquired at least three companies: online medical entrance coaching platform PrepOnline, exam preparation books publisher Altis Vortex, and iNeuron.ai. It acquired doubt-solving startup FreeCo in August.
Money View bags $75 mn from Apis Partners at $900 mn valuation💸
Fintech firm Money View, operated by WhizDM Innovations Pvt Ltd raised $75 million (about ₹621 crore) in Series E round from UK-based asset manager Apis Partners, valuing the firm at $900 million.
Existing investors Tiger Global, Evolvence and Winter Capital also participated in the round, the fintech firm said.
Bengaluru-based Money View was founded in 2014 by Puneet Agarwal and Sanjay Aggarwal. The soonicorn or soon-to-be unicorn offers personalized credit and personal finance products, with assets under management valued at $800 million.
Hot Shorts⚡
Co-working major WeWork India has raised Rs 550 crore from funds managed by BPEA Credit for future growth and acquisition opportunities.
Luxury hair extensions and wig brand Hair Originals has secured $1.25 million led by Anicut Capital, Kesh Kala Family Office, JITO Angel Network, Lets Venture, Dexter Angels, Pankaj Chaddah, and Ahana Gupta.
Advent to buy into Suven Pharma to create manufacturing powerhouse💊
Advent International on Monday agreed to acquire 50.1% of Suven Pharmaceuticals Ltd from the Jasti family, promoters of the company, for ₹6,313 crore, as part of the private equity firm’s plan to create a contract drug manufacturing powerhouse in India.
Advent will make an offer to purchase an additional 26% of Suven’s shares from public shareholders to comply with the Securities and Exchange Board of India’s (Sebi’s) takeover rules.
Suven was demerged from its parent entity Suven Life Sciences in 2020, and has been growing revenues at over 20 percent over the last 4 years, and expanded its operating profit margins by over 43 percent.
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