Existing investors Endiya Partners, pi Ventures and Binny Bansal, besides new investors VH Capital, Axilor Ventures and Trifecta Capital, also participated in the round.
This is Cleartrip’s first cross-border acquisition and the Mumbai-based company is looking to step up operations in West Asia’s travel market, which has witnessed the entry of a dozen domestic and international budget operators such as FlyDubai, AirArabia, Pegasus Airlines and others.
In December 2017, Paytm acquired Nearbuy and Little, two platforms that focus on local restaurants and commercial establishments. Paytm later merged both entities and made an undisclosed investment into the resultant entity.
This is Truecaller’s first ever acquisition in the India market. Both companies are backed by common investor Sequoia Capital.
With the third tranche of a $445-million commitment from SoftBank and Alibaba in, SoftBank’s Kabir Misra joins the Paytm Mall board, while Michael Evans, president of Alibaba, has stepped down.
Around 50% of the new fund will be set aside for seed stage investments, while the rest will be used for pre-seed funding via its accelerator programme.
Till date, the Gurugram-based firm has raised more than ₹200 crore ($29.6 million) from venture capital firms, and an additional ₹500 crore ($74 million) from debt and equity funds.
Existing investors SAIF Partners, Y Combinator and Venture Highway also participated in the latest funding round. Meesho has so far raised a total of $15 million.
The fund aims to invest up to $150 million in projects built by startups, companies and individuals over the next few years.
The startup will use the fresh capital to enhance its credit underwriting algorithm, expand to new markets, and develop its technology base. With the current round of funding, the total equity capital raised by CoinTribe stands at $15 million.