Bengauru-based anonymous social media app Grapevine is in talks to raise its maiden funding round from Peak XV Partners, Entrackr reported on Monday. Separately, Aakash Chaudhry—the promoter of Aakash Institute—is likely to return as its CEO, The Economic Times reported.
Peak XV to invest in Grapevine
Bengaluru-based anonymous social media app Grapevine has raised a seed round worth Rs 21.36 crore ($2.6 million) led by Peak XV Partners, Entrackr reported on Monday. Peak XV Partners invested Rs 20.53 crore in the round, which was also participated by Riverwalk Holdings.
Riverwalk Holdings fund is anchored by the Thakral Group and focuses on sectors such as SaaS, fintech and consumer.
Following the investment, Peak XV has acquired 21.55% of Grapevine while its co-founders Saumil Tripathi, Jainam Talsania, and Shreeyash Dharmadhikari cumulatively hold 65.17%, including ESOPs, according to Entrackr.
Chaudhry may return as CEO of BYJU’s-owned Aakash
Aakash Chaudhry—the promoter of Aakash Institute—is likely to return as the company’s CEO as part of a broader arrangement being finalised with its owner BYJU’s, the Economic Times reported on Monday citing sources. He will replace Abhishek Maheshwari who left Aakash Institute last month.
The report added that Chaudhry is also in the final stages of talks to close the stock-swap deal with BYJU’s as part of the acquisition announced about two years ago.