Sunday, June 23

Tag: Sequoia Capital India

Sequoia Refuels Finova Capital with $6 Mn Investment
FUNDING

Sequoia Refuels Finova Capital with $6 Mn Investment

Finova Capital Pvt. Ltd, a non-banking financial company based in Jaipur has obtained a $6 million (Rs 6.5 crore) investment by existing investor Sequoia Capital. “They have scaled fast while maintaining high portfolio quality and delivered profits. This has encouraged Sequoia to double down on its investment in Finova and support its next leg of growth,” stated GV Ravi Shankar, Managing Director, Sequoia India Capital Advisors. Finova Capital already obtained a prior investment in a Series A round from Sequoia Capital in September 2017. The amount of the investment was however unrevealed. Mohit Sahney, CEO of Finova Capital explained that the company is trying to invest in technology and expansion, hence the funds will be use for this purpose and to increase their operations. ...
Online Used-Furniture Marketplace Zefo Bags $9 Mn in Series B
FUNDING

Online Used-Furniture Marketplace Zefo Bags $9 Mn in Series B

Zefo, an online marketplace for pre-owned furniture and appliances has recently raised Rs 60 crore(around $9 million) from Sequoia Capital India, Helion Venture Partners and Beenext Pte. Ltd in a Series B round. Based out of Bengaluru, the Silicon Valley of India, Zefo will be using the funds to widen up its operations, expand inventory size and better customer support. Zefo, owned by Zero Effort Technologies Pvt Ltd, started in 2015 by selling used furniture and home appliances in Bangalore and has now spread to other tier 1 cities, such as-Mysore, Delhi, Gurgaon, Noida and Mumbai. Zefo currently has 10,000 products that includes sofas, beds, tables, wardrobes, TV, Refrigerators and other furnitures. More than half of inventory is sourced from consumers who sell used products....
Hiring Platform Belong Raises $10 Million in a Series B Funding By Sequoia India
FUNDING

Hiring Platform Belong Raises $10 Million in a Series B Funding By Sequoia India

Predictive outbound hiring platform provider Belong today announced it has raised USD 10 million in a Series B funding (second strategic round) led by Sequoia Capital India. Existing investor Matrix Partners India also participated in the round and the company said it will use the funds to accelerate product development, expand sales and support operations, and hire new talent across engineering, data science, enterprise sales and customer success. Gautam Mago, Managing Director at Sequoia Capital India Advisors, has joined the Belong Board of Directors, which includes Tarun Davda, Managing Director at Matrix Partners India, and Raju Reddy, Founder and ex-CEO of Sierra Atlantic. Founded in 2014, Belong provides outbound hiring Software-as-a-Service (SaaS) solution to industry leaders...
Online Travel Portal IXIGO Raises $10 Million Funding From Sequoia Capital India
FUNDING

Online Travel Portal IXIGO Raises $10 Million Funding From Sequoia Capital India

Ixigo, a Gurugram-based online search marketplace portal has raised $10 million funding from Sequoia Capital India. Started in 2007, Ixigo started operation in flights, hotels, trips, trains, buses and cabs booking, where users can choose best options across multiple service providers. It has a separate mobile application for all of them. Ixigo is backed by Indian investors lyk India's largest online travel agency (OTA) MakeMyTrip and smartphone maker Micromax, besides venture capital firm SAIF Partners. In August 2011, SAIF Partners and Make MyTrip picked up 76.6% in ixigo for $18.5 million, valuing the company at about $25 million. SAIF bought 56.7% while MakeMyTrip picked up 19.9% then. In June 2015, Micromax picked up a stake in the company by investing about $4 million. The i...