The reason for the layoffs has been the failure on the company's part to raise a large funding round.
Ace Turtle is also in talks to raise additional equity financing from new investors in the ongoing Series B round.
Tiger Global is seeking over $300 million for its stake. It has invested about $50-60 million in the company to date.
Policy & Regulations
E-commerce is likely to be on the agenda on Friday when a USTR delegation meets Indian trade officials in New Delhi.
The open offer, which was originally scheduled for May, will now open on July 15 and close on July 20.
O4S will use the funding to strengthen its workforce, accelerate client acquisition, and build technology infrastructure.
Dealmaking increased on the back of 54 deals of value greater than $100 million.
The round also saw participation of the company's existing investors including Sequoia Capital, Matrix Partners, and Accel Partners.
Temasek grew its India exposure to 5% in FY19, compared to 4% in the previous fiscal year.
This fresh tranche follows the previous funding round of $495 million in June by the sovereign wealth funds in Greenko to build power storage projects
© Copyright DEALSTREETASIA 2014-2019 All rights reserved.
Forgot your password?
We will never share your information with third parties.
Already have an account? Sign in here
If you don’t already have an account click the button below to create your account.
Unlock your competitive advantage in
rapidly evolving cape. Our packages
come with exclusive access to archive
content, data, discount on summit tickets & more
Be a part of our growing community now.