Here are the top headlines from the startup space.
GlobalBees acquires Reach, 2nd sport equipment brand in its portfolio
Rollup ecommerce unicorn GlobalBees has acquired the fitness equipment and accessories brand, Reach.
The company is GlobalBees’s second investment in the sports category. It now has twelve brands in its portfolio including The Better Home, andMe, Prolixr, Absorbia, Yellow Chimes, HealthyHey, Rey Naturals, Intellilens, The Butternut Company, Mush and Strauss.
“There has been an increased use of smart machines and workout equipment as people’s outlook towards health and fitness have changed considerably since the COVID-19 outbreak. Reach has a strong growth trajectory, and we are confident to further establish them as a top-selling fitness brand,” said Nitin Agarwal, CEO at GlobalBees.
In the next three years, GlobalBees is looking forward to investing in more than 100 brands across verticals, including fast-moving consumer goods (FMCG), sports, home organisation, and lifestyle, it said in a statement.
KFintech acquires Hexagram to expand into fund accounting, reconciliation solutions for asset managers
Private equity investor General Atlantic-owned KFin Technologies, an investor and issuer platform, has acquired Hexagram Fintech, an IT product company specialising in fund accounting and reconciliation product development.
Following the deal, Hexagram will become a wholly-owned subsidiary of KFin Technologies. KFin Technologies will expand its…
