By Juliet Shwe Gaung
The proceeds of the funding will help Cymulate expand its operations in the US and accelerate R&D.
The startup has already secured Rs 303.31 crore (about $43 million) from the lead investors as part of its latest funding round.
The company is in talks to raise around $50 million in funding but may see the round get over-subscribed up to $70 million.
Yunhu Technology has secured tens of millions of RMB in Series A+ financing led by China Creation Ventures.
This is Bansal’s third investment this year after AI-based healthcare venture Niramai Health Analytix and learning-based platform Crio.
The company plans to use the funds to scale the business and strengthen the marketplace platform.
The Series C round also saw participation from its existing investors Accel, Chiratae Ventures and Aavishkar Bharat Fund.
While Sequoia has invested through Sequoia Capital India Trust and SCI Investments VI fund, Lightbox Ventures has invested through its second, and expansion fund.
The startup had raised $33 million from two previous financing rounds.
King River is looking to invest in 15-20 early-stage companies with an average cheque size of A$10 million ($7.07 million) over the next 3-4 years.