Sunday, January 29, 2023
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Investment

Increase in shareholding by domestic investors shows more Indian believe in Paytm’s ability to deliver profitability without compromising on growth

In FY 2021-22, Mumbai Angels Network made investments worth Rs 100 crore

Post-pandemic BeatO has reportedly witnessed an upsurge of 5x new user registration from tier IV and beyond

The company raised $8 million in a Series B venture round led by Bill and Melinda Gates Foundation SIF in 2018

The invested funds will likely be a mix of a primary and secondary share sale

Mumbai Angels, Tarmac Ventures, Tailwind Ventures, Longtail Ventures, Lets Ventures and AngelList also participated in the funding round

The funding boosted the valuation of the e-commerce platform to $3.2 billion

The fund is expected to be sector-agnostic and intends to invest in start-ups that are working in green energy, retail and pharmaceutical domains

This capital infusion was led by Nexus Venture Partners, Sorin Investments and other marquee angel investors

The company aims to utilise this capital to diversify its product portfolio and marketing initiatives