Spinny looks to raise $100m; Tata buys Pegatron’s India unit

Pre-owned car platform Spinny is looking to raise over r$100 million in a new funding round, while Tata Electronics has bought a 60% stake in Apple’s contract manufacturer Pegatron.

Spinny in discussions to raise over $100 million

Gurugram-based used car retailing platform Spinny is in talks to raise more than $100 million in a new round from existing investors including Accel, General Catalyst, Elevation Capital, and Abu Dhabi Growth Fund, among others, as per a report by Entrackr.

The Tiger Global-backed startup had earlier closed a $283 million Series E funding round in December 2021, led by Abu Dhabi-based ADQ, Tiger Global and Avenir Growth. The used car platform has raised $500 million so far. Tiger Global and Accel are its largest stakeholders.

Tata buys 60% stake in Apple partner Pegatron’s India unit

Tata Electronics has acquired a 60% controlling stake in the India unit of Apple’s iPhone assembly partner Pegatron, eyeing to boost its iPhone manufacturing capacity in the country.

The deal comes just after a year when Tata also bought the India business arm of Wistron, another contract manufacturer of iPhones, making Tata one of Apple’s most important partners in Asia at a time when the tech heavyweight is pushing to expand its manufacturing capacities outside China.

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