Keeping pace with the growth of India's digital payments market, Purchase, New York-based Mastercard announced a fresh investment of $1 billion over the next five years to increase its infrastructure in the country. The company expects to double its existing headcount from 2,000 to 4,000 during that period. Rajeev Kumar...
SoftBank Invests Over $200 Million in India's Online Grocer
Japan's SoftBank Group led an investment round of more than $200 million in New Delhi-based online grocery startup Grofers India through its Vision Fund. The series F funding saw participation from new investor, KTB of South Korea, and existing investors Tiger Global Management of New York and Sequoia Capital of...
India's Cipla to Acquire Avenue Therapeutics of New York
Mumbai-based drug company Cipla said that its U.S. subsidiary InvaGen Pharmaceuticals Inc formalized a two-stage agreement to acquire specialty pharmaceutical company Avenue Therapeutics Inc for $215 million. New York-based Avenue is focused on the development and commercialization of intravenous (IV) Tramadol. The transaction will be subject to Avenue stockholders’ and...
Blackstone to Invest in Second Auto Components Maker in India
Having acquired Chennai-based auto parts maker Comstar Automotive Technologies Private Limited for $150 million in April this year, New York-based Blackstone Group L.P. is set to invest in Gurugram-headquartered auto components maker Sona BLW Precision Forgings Limited. Blackstone will initially invest a minority stake, and will later increase its shareholding in...
Bluecore of New York Acquires India Startup
New York-based retail tech marketing company Bluecore Inc., announced the acquisition of Noida-based startup Betaout a customer intelligence and marketing automation platform for e-commerce companies. Fayez Mohamood, CEO and co-founder of Bluecore said, "Betaout brings expertise in channels beyond email, like Facebook, onsite, mobile push, SMS, that are critical to...
PepsiCo India Posts Double Digit Growth in Q3
PepsiCo India's organic sales saw a double-digit growth, but revenue growth remained at mid-single digits due to volatility in the rate of the rupee. This is the fourth consecutive quarter of growth that the Harrison, New York based beverages major has reported for the India market. "In Q3 2018, we...