Bangalore, India -based Ola Electric Mobility Pvt. Ltd raised $56 million from existing investors New York City's Tiger Global Management and San Francisco's Matrix Partners' subsidiary in India. Ola Electric Mobility is a division of cab aggregator Ola which plans to launch 10,000 three-wheeled and other electric vehicles on Indian...
Matrix Partners Invest in India's Dairy Startup Country Delight
Palo Alto, CA-based Matrix Partners' subsidiary Matrix Partners India led an investment of $10 million in Guragaon-based dairy startup Country Delight. Matrix’s previous investment in the dairy space was on milk and grocery delivery startup DailyNinja. "We have been tracking Country Delight for more than a year now and have...
Matrix Partners India Announce New $300 Million Fund
Matrix Partners India, a subsidiary of San Francisco, CA-based Matrix Partners, announced the closing of its third fund with a committed capital of over $300 million. This follows the over $100 million Extension fund closed in 2016. The private equity investment firm has backed more than sixty startups to date,...
U.S.'s Ebix Acquires Majority Stake in India's ItzCash
Atlanta, GA-based Ebix Inc., a maker of software for the insurance and financial services industry, acquired a majority stake in Indian payments services firm ItzCash for approximately $124 million. ItzCash's earlier investors, Matrix Partners, Intel Capital and Lightspeed Venture Partners, exited the company for returns between 3X - 5X, leaving...