India Digest: Tiger Global in separate funding talks with Vogo, Innovaccer

Photo: Bloomberg

New York-based investment firm Tiger Global Management, which has been on an investment spree in India lately, is in talks with bike rental startup Vogo and healthcare data platform Innovaccer for funding.

Tiger Global eyes bike rental startup Vogo

Tiger Global Management is in talks to invest about $40-50 million in India’s Vogo Automotive Pvt. Ltd, which offers bikes on rent, The Economic Times reported.

Vogo, which is backed by ride-hailing giant Ola, was also reportedly in talks with Japanese conglomerate SoftBank for funding. However, it is unclear if the talks would lead to an actual investment.

The company had recently raised Rs100 crore in a Series B round from investors including Kalaari Capital, Stellaris Venture Partners, Matrix Partners India and Pawan Munjal family trust. In June, Alteria Capital invested Rs 25 crore (about $3.6 million) in Vogo.

Tiger Global, Steadview eye Innovaccer

Innovaccer Inc., a Noida- and San Francisco-based healthcare data platform, is in advanced talks to raise $50-60 million funding from Tiger Global Management, Steadview Capital, and Dragoneer Investment Group, The Times of India reported.

The funding round, which is expected to close in the next 3-4 weeks, would value Innovaccer at about $300 million, the report added.

The startup has raised $50 million in funding till date, and also counts Pravega Ventures, Lightspeed India and WestBridge Capital among its list of backers.