India Digest: Dot eyes funding from PayU; Mfine in process to raise $34m

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Dot is in advanced discussions to raise a $20-25 million funding round from payment gateway PayU while healthcare services startup Mfine has passed resolution to raise $34 million from existing shareholders.

Dot eyes fresh funding from PayU

Dot, which provides digital transformation and commerce solutions to brick and mortar outlets,
is in advanced discussions to raise a $20-25 million funding from payment gateway PayU. The contours of the deal have almost been finalised, which may value Dot at $75 million.

Dot is also in talks with DST Global to raise another $25 million, Entrackr reported. The talks with DST, however, are at an initial stages and may or may not go through.

Dot was founded by PayU India co-founder Shailaz Nag. The startup had raised $8 million in seed funding $8 million led by PayU and Fosun RZ Capital in February last year.

Mfine to raise $34m from existing shareholders

Healthcare services startup Mfine, operated by NovoCura Tech Health Services is raising about $34 million (Rs 246.04) from existing shareholders in the ratio of their holdings. Its existing shareholders include SBI Ven Capital, Beenext, Stellaris Venture Partners, and Prime Venture Partners.

Mfine has passed a special resolution to approve an offer and issue of 2,17,315 compulsorily convertible debentures at a nominal value of Rs 11,322 each to raise Rs 246.04 crore from existing shareholders, Entrackr reported quoting regulatory filings.

The Bengaluru-based company had kicked off its Series B funding round in April last year. It has received the first tranche of Rs 29 crore from funds from Singapore-based CateTech Pte.

 

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.