India Digest: Swiggy, KhataBook, University Living in funding talks

Samsung Venture Investment Corp (SVIC), the investment arm of smartphone giant Samsung Electronics, is in talks to invest about $7-10 million in Swiggy while KhataBook is close to raising $70 million in fresh funding. Separately, University Living plans to raise $5-7 million as it looks to expand overseas operations.

Samsung’s VC arm eyes Swiggy

Samsung Venture Investment Corp (SVIC), the investment arm of smartphone giant Samsung Electronics, is in talks to invest about $7-10 million in Indian online food ordering and delivery platform Swiggy, The Economic Times reported.

The infusion will be part of Swiggy’s ongoing Series I financing round. Last week, the Bengaluru-based company raised about $113 million in funding led by its largest existing investor South African internet giant Naspers. The round also saw the participation of existing investors Hadley Harbour Master Investments and Meituan.

SVIC’s investment in Swiggy will be at the same valuation – $3.6 billion – that Naspers and Meituan have invested at, the report added.

KhataBook close to raising $70m

KhataBook, a mobile application that enables small and medium enterprises to record and track business transactions, is close to raising $70 million (about Rs 503 crore) in a fresh funding round led by new investor B Capital Group, The Economic Times reported.

Existing backers Sequoia Capital and Tencent are also expected to join the financing round, which is likely to spike KhataBook’s valuation to $275-300 million.

Last October, the Bengaluru-based startup raised $25 million in Series A funding from GGV Capital, partners of DST Global, RTP Ventures, Sequoia India, Tencent, Y Combinator and others.

University Living eyes overseas expansion

University Living, a Delhi-based global student housing marketplace, plans to raise $5-7 million as it looks to expand operations in the US and Canada.

Existing investors Indian Angel Network and Lets Venture will also participate in the Series A round, The Economic Times reported.

The funds will also be used for tech development, product enhancement, working capital for offshore offices, brand visibility for improved network effect, community building and team expansion, the report added.

 

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.