Explore the latest news, in-depth reports, and executive analysis tagged with #Venture Capital.
The round also saw participation from existing investors Notable Capital, NEA, Neo Ventures and 8VC, along with new investors Acrew, Forerunner, Goodwater and Peak XV.
The transaction marks Y Combinator’s second significant share sale in Groww this year after the six-month lock-in period for investors ended following the startup's listing late last year.
The round also saw participation from Vertex Ventures Southeast Asia and India and existing investor 3one4 Capital.
The venture capital firm has already deployed more than Rs 100 crore across seven startups, including EtherealX and Zebu Intelligent Systems.
BofA and Jio Financial Services have entered into a JV deal under which the US banking major will pick up shares through a preferential issue and warrants.
The funding round also saw participation from existing investors including Lightspeed India Partners and Burman Family Office, among others.
The funding round also saw participation from DeVC, Antler India, Panthera Peak, and a group of angel investors.
The new fund is around 15% smaller than Accel’s previous India fund. Accel had closed $650 million for its eighth India fund in January last year.
The Bengaluru-based startup will use the fresh capital to accelerate the development of enterprise-grade AI solutions and strengthen its Forward Deployed Engineer (FDE) model, among others.
More than 65% of the commitments for the first close came from overseas Limited Partners (LPs), or investors.
Talking about his fund, LPs, investment strategy, Cedar Hill Capital's founder Sahil Anand said raising capital remains challenging.
The funding round also saw participation from Luthra Group and follow-on investments from existing investors SVL-SME Fund (managed by SBI Ventures Limited), Rainmatter Capital, and 8X Ventures Fund I.
The shares were acquired by a mix of domestic mutual funds, insurance firms and global institutional investors.
The stake sale attracted participation from several domestic and international institutional investors, with Axis Mutual Fund and Fidelity among the key buyers.
Succession planning is likely to remain an area that investors will watch over long term with Cult.fit IPO expected to be largely an OFS-driven liquidity event.
In addition, the company raised Rs 110 crore in debt from IDFC and Axis Bank.
The startup will use the fresh investment to expand its team in Bengaluru and London.
The latest funding round valued the Delhi-based startup at Rs 45 crore.
