The stake is expected to be valued at at least $200 million, given that Mu Sigma entered the coveted unicorn club when Mastercard invested $45 million in February 2013.
The startup’s latest fundraise comes at a time when rival Helo, owned by China’s ByteDance, is on a spending spree as it looks to tap India’s internet consumer market.
The firm has so far invested in two home-grown startups—Shadowfax and Zolo Stays.
Shiksha provides student loans to parents of school-going children, and school loans to educational institutions.
Shunwei Capital, the venture capital firm founded by Xiaomi founder Lei Jun and Tuck Lye Koh, has also shown interest in backing NestAway’s latest funding round.
The Avendus India ESG Fund, housed under the company’s alternate asset management arm, will raise money from domestic and international investors.
Sovereign wealth fund ADIA and leading global alternative asset firm TPG have partnered UPL Corp.’s acquisition of Arysta, which closed on Monday.
The fund, the second from Ankur Capital, is currently raising capital, following its first fund of ₹50 crore raised in 2016.
Minda has acquired KPIT’s hardware products for school buses.
Supa Star will use the funds to grow its distribution network and add more products.