VENTURE CAPITAL POST

Pune, India-based tablet and phablet manufacturer Swipe Telecom nabbed a $4.9-million (INR30 crore) investment from Kalaari Capital to widen its market reach across the country.

Unitus Seed Fund backed Mumbai, India-based dental clinic chain Smile Merchants with an undisclosed investment to develop the latter's hub-and-spoke system and fund its national expansion.

New Delhi, India-based microfinance institution Satin Creditcare Network Limited (SCNL) bagged $4.7 million (INR28.44 crore) in a funding round led by Norway-based impact investor NMI Fund III KS (NMI) to fuel its growth and diversification.

Wetzikon, Switzerland-based cable solutions provider Reichle & De-Massari (R&M) acquired Bangalore, India-based fiber optic products manufacturer Advanced Fiber Systems (AFS) for an undisclosed sum as part of its efforts to expand in India.

Bangalore, India-based social media marketing and analytics firm Salorix Inc closed down its operations after it failed to raise fresh capital due to the founder's feud with investors.

Mumbai, India-based private equity fund manager ASK Pravi Equity Opportunities Fund picked up a minority stake in Chandigarh-based children's clothing firm Indian Clothing League Pvt Ltd for INR50 crore ($8.08 million).

Kolkata, India-based business group Gillanders Arbuthnot & Co Ltd entered an agreement to buy out Malawi-based tea and macadamia producer Group Development Ltd for an undisclosed amount, according to a stock market disclosure.

Singapore-based private equity firm Nalanda Capital has increased its holding in Mumbai, India-based underwear manufacturer Lovable Lingerie Ltd to 8.79% in a deal valued at $3.25 million.