MakeMyTrip’s decision to bet on OYO Rooms is the latest in a series of moves aimed at cementing its partnership with the SoftBank-backed company.
If Tim Draper had a meeting with Narendra Modi, he would tell him that he was making a 'huge mistake', says the American billionaire investor.
Saama Capital began as a spinoff from US-based lender Silicon Valley Bank (SVB), which specialises in working with technology startups.
The VC firm roped in Gulf-based billionaire Dr BR Shetty as a major backer with a $10 million commitment.
Capital deployed across series A, B and C funding into startups surged 73% year-on-year to $850 million in March quarter, and the number of deals rose 30% to 76, show data from Tracxn.
“There are too many small businesses that get built to be sold. The objective here is to build businesses that last,” said Michael Sabia, Chief Executive of CDPQ.
Nilekani and Aggarwal had set up Fundamentum as a growth-capital fund for mid-stage technology companies in India, announcing it in July last year.
The company recently closed a $300-million round led by Alibaba and CEO Hari Menon expects to grow further with the infusion of capital.
The move comes less than two months after South African media giant Naspers and Chinese ecommerce firm Meituan-Dianping invested $100 million in the Bengaluru-based startup.
Naspers plans to use the capital to scale and consolidate its position in "core ecommerce segments" globally.
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