The three-year-old startup has been founded by Ajith Karimpana, who has worked at Morgan Stanley and Goldman Sachs in the US.
Parkway is owned by Malaysia's IHH Healthcare, which also holds over a 10 per cent in India's largest hospital chain, Apollo Hospitals.
Mahindra First Choice declined to disclose the valuation, except say that it is north of a $100 million (Rs 621 crore).
When the four-year-old Ola acquired smaller rival TaxiForSure in February, it was estimated to be worth about $1.4 billion.
CapAleph Advisors hopes to raise Rs 125 crore private equity fund from domestic institutions and HNIs by December this year.
At least three other investment firms including Delhi-based Madison India Capital have also submitted bids to buy Canaan’s India portfolio.
Daily Rounds, a mobile app that compiles case studies and quizzes for doctors, has raised a seed round Rs 3 crore ($500,000) from venture capital firm Kae Capital.
The app, available on the Android platform, is currently being used by over 45,000 doctors.
These companies focus on sub-segments like vacation planning, asset light hotels, travel related content and are likely to grow exponentially.
Several industry executives that ET spoke to estimated that burn rates range from Rs 30 crore to Rs 120 crore every month at top companies.
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