MFine merges with LifeCell’s unit in JV; Vegrow raises $25 mln; Apple slips in PC shipments

MFine, a mobile health app and digital healthcare platform provider facing a money crunch in the slowdown, is merging with the diagnostics business of LifeCell International, a stem cell bank and reproductive genetic testing services company, to form a new entity called LifeWell. Vegrow, a fruits marketplace, has raised more money. And Apple slipped in Q2CY22 worldwide PC shipment rankings, IDC says. Notes: MFine, a mobile health app and digital healthcare platform provider that was facing a money crunch in the ongoing slowdown, is merging with the diagnostics business of LifeCell International, a stem cell bank and reproductive genetic testing services company, to form a new entity called LifeWell. LifeWell has also secured $80 million in investment from OrbiMed, a healthcare investment firm with approximately $18 billion in assets under management. MFine was founded in December 2017 by Ashutosh Lawania and Prasad Kompalli in Bengaluru. The company didn’t provide any details about the terms of the deal with LifeCell. However, MFine will continue to offer its app platform and consumer brand, delivering digital healthcare services and tools, according to its press release. Tele-consultations, care plans, diagnostic tests, IP concierge, e-pharmacy and corporate subscriptions will continue to be offered on the MFine app. The money raised will also be used for strategic investments in MFine’s fast-growing corporate and insurance channels. Vegrow, a B2B marketplace provider for fruits, has raised $25 million in series B funding, led by Prosus Ventures, the company said in a press release. Matrix Partners India, Elevation Capital, Lightspeed India and Ankur Capital also participated in the round. Vegrow was founded in 2020 by Praneeth Kumar, Mrudhukar Batchu, Kiran Naik and Shobhit Jain. The company has built a network of local advisors to digitally engage with farmers in more than 400 production pockets – processing more than 200 tonnes of fruits daily. The fresh funds will be used for expansion into more demand centres, going deep into supply micro pockets and building a strong talent pool in product, engineering, and other support function domains. Aerem, a solar financing platform provider for MSMEs, has raised $2.5 million in pre-Series A funding led by Blume Ventures, the company said in a press release. The money will be used for growing the loan book, building out its tech platform and hiring teams including leadership in technology, product, finance, and operations. Worldwide shipments of traditional PCs declined 15.3 percent year over year to 71.3 million units in the second quarter of the calendar year 2022, according to preliminary results from International Data Corporation’s Worldwide Quarterly Personal Computing Device Tracker, the company said in a press release. Despite the recent decline and weakening demand, the total PC volume is still comparable to the beginning of the pandemic when volumes reached 74.3 million in the second quarter of 2020. And the market is still well above pre-pandemic levels as volumes in the second quarter of 2018 and 2019 were 62.1 million and 65.1 million units, respectively. While rankings among the top three companies did not change, Apple slipped into the fifth position, tying the company with Asus, as production dipped during the quarter, according to IDC. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds