India Dealbook: InterviewBit, Dose FM in funding news; Avanti eyes $150m

Photo: Reuters

Indian startups continue to attract investor attention. InterviewBit Academy is in the process of raising $20 million from Tiger Global and Sequoia Capital while Avanti Finance is planning to raise $150 million. In another development, Dose FM has raised an undisclosed amount in seed funding.

InterviewBit to raise $20m from Tiger, Sequoia

Pune-based reskilling startup InterviewBit Academy is in the process of raising $20 million from Tiger Global Management, Sequoia Capital India and Singapore’s Economic Development Board (EDB), the Times of India reported.

The latest round is expected to value the startup at over $100 million. It will use the funding proceeds to expand operations within India, and in overseas markets like Indonesia and the US, the report added.

Founded in 2014 by by Abhimanyu Saxena and Anshuman Singh, InterviewBit was also among the first batch of startups selected by Sequoia Capital’s accelerator programme Surge.

Avanti eyes $150m funding

Avanti Finance, the fintech startup founded by Ratan Tata and Nandan Nilekani, is planning to raise $150 million in a combination of equity and debt funding, The Economic Times reported.

The funds will help the startup meet its investment needs for the next 18 months, the report said.

Established in 2016, Avanti Finance aims to provide timely, affordable credit to the unserved and under-served segments leveraging new age digital technologies. The firm has built up a Rs 50 crore loan book with its own capital as a proof of concept, the report added.

Dose FM raises seed funding

Mumbai-based audio streaming platform Dose FM has raised an undisclosed amount in see funding from an AngelList syndicate led by Utsav Somani and other angel investors such as Abhishek Madhavan of Loco and MPL, INC42 reported.

The funds will help the company grow by investing in development of tools for audio content creators, and the platform where the content is shared, the report added.