Bengaluru and Los Angeles-based spacetech platform Pixxel is in discussions with Singapore's GIC, Google and Accenture to raise up to $50 million in a fresh funding round, The Arc reported, citing two people aware to the development.
For GIC, this will be the second major bet in spacetech after Skyroot.
Last year, Pixxel raised $25 million in a Series A round led by Toronto-based venture capital firm Radical Ventures. The fundraise also saw participation from Seraphim Space Investment, Lightspeed Partners, Blume Ventures, Sparta LLC and Inventus Capital India.
“The GIC deal has been signed at a pre-money valuation of $150 million and a post-money figure of $185 million,” one of the persons mentioned above said. “The talks with Google are still underway.”
Birla Tyres, a Kolkata-based Kesoram Industries Ltd company, has drawn interests from Dalmia Bharat Group and Pawan Ruia, The Economic Times reported, citing people aware of the development.
Both the applicants have offered staggered payment and the net present value offered by both is below Rs 100 crore. It is substantially below our expectations,” said a lender. “We have asked the resolution applicants to improve the offer,” the same person said.
Earlier this year, the company received expressions of interest from at least five entities including the India Resurgent Fund, a distressed assets joint venture of Bain Capital, Piramal Group, tyre maker Ceat, Jindal Power, Dalmia Bharat Refractories and Purnendu Chatterjee-promoted MCPI.
Online pharmacy platform PharmEasy, operated by API Holdings Ltd, has fired its several employees, joining the latest list of Indian startups to have trimmed their workforce amid a tough macroeconomic environment through last and this year, said a media report.
PharmEasy counts Prosus Ventures, TPG Growth and Temasek as investors.
While the number of total staff impacted by the layoff exercise could not be determined but as per sources quoted by DealStreetAsia, it was across verticals ranging from logistics, procurement, sales, operations, design and technology.
