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.