Liquidity Events
GlobalBees to acquire 39% in consumer electronics brand Candes for $3.2 M
Unicorn E-Commerce brand aggregator GlobalBees is to acquire a 39.26% stake in Delhi-based D2C electronics appliance brand Candes. The target company will allot 17,544 compulsorily convertible preference shares (CCPS) to GlobalBees for USD 3.2 million. From the Venture Intelligence PE-VC Deal Database: In Jun-2021, Candes had raised USD 3 million from various family offices located in Delhi. The round was led by Anuraag and Ruchirans Jaipuria along with Lotus group JMD Nitin Passi and Redcliffes Dheeraj Jain. Candes was founded by brother-entrepreneurs Sandeep Agarwal and Vipin Agarwal in 2015 and provides a range of home appliances at affordable prices.
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