The funding momentum comes after Ola decided to raise capital at a lower valuation of $3 billion, from $4.5-5 billion in 2015, from SoftBank in November last year.
Gupta, who will be based out of the company’s Singapore office, was till recently heading the TMT (technology, media and telecom) vertical in India and Southeast Asia for Deutsche Bank
The chip, which weighs about 25 grams and can be mounted on top of any cricket bat, generates data for every shot that the batsman plays.
The backing by the family offices, which till now have been primarily investing in technology-focused venture capital funds, indicates a broader appetite for early-stage companies.
Silicon Valley venture capital firm's India-focused fund, which initially raised $530 million in May 2014, has a corpus of over $850 million
The online ticketing company plans to bring down share of movies and increase investments in live events & content business
Seth's exit will give more power to Kalyan Krishnamurthy, who took over the HR function last week
Investors, including Japan’s Softbank, who pumped in close to $1.6 billion in Snapdeal, hold preference shares which grants them the right to be paid back ahead of employees and even founders, who hold common shares.
Software maker Microsoft, which signed a business part which signed a business partnership with BrowserStack in March, has also offered to invest around $40 million in the company at a valuation of $400-500 million over the past few months, said two of the sources cited above.
'We want to work with everyone who is building online and offline payment-led businesses. It will be great to find out synergies together in SoftBank's portfolio in India.'
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