Global Fashion Group Raises $339M From Existing Investors
Gurgaon: Global Fashion Group, the parent company of Jabong, has raised $339 million in a round from existing investors Germany’s Rocket Internet SE and Swedish investment firm Kinnevik.
Global Fashion Group consists of six ecommerce companies viz. Jabong (India), Dafiti (Latin America), Lamoda (Russia and CIS), Namshi (Middle East), The Iconic (Australia), and Zalora in Southeast Asia. eCommerce market is currently growing at an expected valuation to reach $119 billion by 2020.
Car Rental Startup Drivy Secures $35M Cathay Innovation, Nokia Growth Partners & More
Paris: Car rental company, Drivy in a round has raised $35 million from Cathay Innovation, Nokia Growth Partners and existing investors Bpifrance, Via-ID and Index Ventures. Founded by Paulin Dementhon in 2010, the company allows its users to rent people’s cars everywhere within walking distance of home whenever they need one: whether it is to go away for a weekend, attend a business meeting or organise a move.
Available in France, Germany and Spain, Drivy claims to have achieved 1.4 million days of rental and 850,000 users every since the platform was created in 2010.
Peter Thiel & Mitt Romney Co-lead Vivint’s New Round of Funding
Utah: Smart home company Vivint has raised $100 million in a round co-led by Peter Thiel and former U.S. presidential candidate Mitt Romney’s Solarmere Capital to further develop its home automation subscription service. Founded in 1999 and acquired by Blackstone Group in 2012 for over $2B, the Utah-based company posted $650M in revenue for 2015.
Founded by Keith Nellesen and Todd Pedersen, Vivint offers a home automation system that connects the user’s home smart systems to improve security, convenience and energy efficiency.
Medical Emergency App MUrgency Secures Funds From Axilor Ventures
San Francisco: MUrgency, emergency response app, has raised an undisclosed amount of funding from Axilor Ventures. Founded by Shaffi Mather and Sweta Mangal in 2014, MUrgency is a mobile app that connects people who need emergency response in real-time. Besides, it also makes the nearest emergency responder (doctor, nurse, paramedic, ambulance, etc.) available to a person facing any emergency.
“The company will use the proceeds of the funding to develop the brand, recruit talent, augment technology, and scale operations,” said Shaffi.