Start-Ups

The API infrastructure company Setu from Bengaluru has been purchased by Noida-based merchant commerce platform Pine Labs for an undisclosed sum. The sale is reportedly worth anywhere between $70-75 million, according to multiple media sources. As part of the agreement, Setu will continue to run as a separate business and continue to support its current merchants. Pine Labs will be able to access Setu’s API infrastructure stack and enter integrated finance as a result of the agreement, extending fresh offerings for its online merchant partners. “Setu will make an incredible…

Byju’s, the most valued startup in India and a provider of online education, is delaying payments for a $1 billion acquisition made last year. According to the sources, who declined to be named because the conversations were private, Byju’s requested a two-month delay before paying Blackstone Inc. and other shareholders of test prep company Aakash Educational Services this week. According to the sources, several dealers got partial payments in 2021. According to one of the sources, Blackstone, which controlled 38% of Aakash, decided to postpone payments that were due this…

BetterPlace, a full-stack tech platform for frontline staff management, has announced the purchase of EzeDox, a no-code workflow builder platform, for an undisclosed sum. BetterPlace has consolidated its leadership position as the largest and only full-stack tech provider in the Indian frontline workforce management area, a $80 billion potential in India, with this acquisition. In its seed stage round, EzeDox was last valued at $2 million. BetterPlace will be able to automate and digitise its frontline personnel management procedures with EzeDox’s custom workflow builder capabilities from day one of operations….

Anicut Capital, an investment management firm, announced on Tuesday that it had raised Rs 110 crore to acquire equity holdings in startups across a variety of industries. The Rs 500-crore Anicut Opportunities Fund I has reached its first closure. According to an official announcement, the fund would be used to invest in up to 15 growth stage enterprises. It also stated there is a Rs 250-crore greenshoe option for the newly launched fund, without divulging the details of the Rs 110-crore commitments. The firm also announced the appointment of Dhruv…