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Apex Kidney Care and HairOriginals raise funding, while Paytm Cloud Technologies is set to acquire a 25% stake in Seven Technology.
Apex Kidney Care raises $9m from Blue Earth
India’s dialysis service provider Apex Kidney Care (AKC) said it has raised $9 million from Blue Earth Capital AG (BlueEarth), a Switzerland-based global impact investment firm, for an undisclosed equity stake.
This investment was facilitated by Tata Capital Healthcare Fund (TCHF), the healthcare-focused private equity fund of Tata Capital. Last year, TCHF invested an equivalent amount in the firm through a similar equity investment.
Founded by nephrologists Dr Viswanath Billa, Dr Shrirang Bichu, Dr Jatin Kothari and Dr Rajesh Kumar, AKC offers comprehensive kidney care and dialysis services. Headquartered in Mumbai, led by Indranil Roy Choudhury as Director and CEO, AKC operates over 200 dialysis centres across 120 cities.
Tata Capital Healthcare Fund counts Linux Laboratories, Sakar Healthcare, Orbicular Pharmaceuticals Technologies, Atulaya Healthcare, Anderson Diagnostics, and Apex Kidney Care among its portfolio companies.
HairOriginals snags $5m from 12 Flags, Anicut
India’s hair extensions brand HairOriginals on Wednesday said it has raised $5 million in a Series A funding round co-led by 12 Flags Consumer Holdings and Anicut Growth Fund along with participation from Lenskart founder Peyush Bansal.
Founded by IIT graduates Jitendra Sharma and Piyush Wadhwani, HairOriginals opened stores in Hyderabad and Coimbatore airports in collaboration with salon chain Naturals. To grow its global presence, it has also partnered with Kurves salon chain in North America to establish experience centres.
“India has been the global leader in the export of human hair. While India exports more than 85% of raw human hair, China captures the majority of the value-added market by selling to global markets in the form of hair extensions and wigs. HairOriginals is capturing value in India by building an omnichannel brand of premium hair extension products through supply chain and manufacturing focus,” said Dhruv Kapoor, a partner at Anicut Capital.
The company previously raised $1.5 million in seed funding from Anicut Capital and other investors. Fresh funds raised will be utilised to expand try-at-home services by bringing on-demand hair extension home service to 40 cities, establish 25-30 company-owned experience centres in the next 12 months, and bolster R&D capabilities.
Paytm to buy 25% stake in Dinie
Paytm’s wholly owned subsidiary, Paytm Cloud Technologies Limited (PCTL), has approved an investment of $1 million to acquire a 25% stake in Seven Technology LLC, the parent company of Brazilian embedded finance startup Dinie.
Seven Technology and Dinie will become entities of One97 Communication after the transaction.
Global brokerage firm Bernstein has upgraded Paytm to ‘Outperform’ with a price target of Rs 1,100 per share while also expressing concerns over the acquisition of the Brazil-based embedded finance startup, CNBC reported.
“This development is negative for a business that has yet to turn profitable in its home market,” the brokerage said. Bernstein wrote in its note that the idea of going after newer and shinier markets raises questions about this assumption.
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