In separate funding developments, Protectt.ai and Go Zero closed their Series A rounds, while Hindustan Unilever secured regulatory approval for its acquisition of the beauty brand Minimalist.
Protectt.ai bags $8.7m in Series A round
Mobile app security platform Protectt.ai has secured $8.7 million in a Series A funding round led by Bessemer Venture Partners.
The company plans to use the proceeds to develop new artificial intelligence security solutions and expand globally in the US, Middle East & APAC.
The platform protects mobile phones from cyber threats, and malicious attacks and aims to provide mobile app security solutions to over 200 million smartphone users in India.
Go Zero raises around $3.5m in Series A round
Ice cream company Go Zero has secured $3.5 million (around Rs 30 crore) in Series A funding round from its existing investors like DSG Consumer Partners, Saama Capital, and V3 Ventures.
The guilt-free ice cream maker plans to use the funding proceeds for supply chain expansion, innovation in product offerings, and growth on quick-commerce platforms in tier I and tier II cities.
In June last year, the company bagged $1.5 million in its pre-Series A funding round from DSG Consumer Partners, Saama, and V3 Ventures, among others
Hindustan Unilever gets CCI nod to buy Minimalist
The Competition Commission of India has approved Hindustan Unilever’s acquisition of Minimalist-parent Uprising Science.
Hindustan Unilever will initially buy 90.5% shares of Uprising Science Pvt. Ltd, and will acquire the remaining 9.5% shares in about two years from the completion date of the acquisition, per the agreement.
The FMCG behemoth, which owns renowned brands like Lakme and Lux, announced its plans to buy Minimalist in January this year, through a combination of primary infusion and secondary buyouts.
