US-based online grocery retailer Shipt has raised $20.1m in a Series A funding round in order to expand its business to new markets, enter partnerships with grocery retailers and invest in the existing team.
The funding was provided by venture capital firms Greycroft Partners, Harbert Growth Partners and e.ventures.
India-based PC Jeweller is set to raise $38.14m through private placement of compulsorily convertible preference shares, in order to expand its small and franchised stores.
The placement will be subscribed to by investment trusts and funds, including Fidelity Advisor Series VIII – Fidelity Advisor International Capital Appreciation Fund, Fidelity Emerging Markets Fund, Fidelity Investment Trust – Fidelity Emerging Markets Fund, Variable Insurance Products Fund II, Fidelity Investment Trust – Fidelity Total International Equity Fund and Fidelity Investment Trust – Fidelity International Small Cap Fund.
PC Jeweller is a jewellery designer, manufacturer, retailer and exporter with revenues of approximately $1.1bn.
UK-based private equity firm Development Partners International (DPI) has announced that it has reached an agreement to purchase a 33% stake in a Egyptian consumer electronics and household appliances retailer that will enable improve its supply chain and IT infrastructure.
Based in Cairo, Egypt, the target company is named B.Tech for Trading and Distribution Company SAE. The purchase consideration for the transaction is $35m.
The stake purchase is also expected to enable DPI launch new products, services and stores.