Edtech startup Vedantu is in initial talks with several new investors to raise $150 million in a new funding round. Separately, Tiger Global is in talks to lead a funding round in Gurugram-based used car retailer Spinny.
Vedantu eyes $150m fresh funding
Edtech startup Vedantu is in initial talks with several new investors including Owl Ventures to raise $150 million in a new funding round. The round may also see the participation of existing investors including Coatue, Tiger Global and Accel, Entrackr reported.
Vedantu is eyeing a valuation of $1 billion in the fresh round. However, investors are not keen to value it over $800 million, the report said quoting sources.
The company had raised $100 million in its Series D funding round, led by US-based investment firm Coatue Management in July last year. The round had also seen the participation of existing investors.
Tiger Global in talks to invest in Spinny
New York-based investment firm Tiger Global is in talks to lead a $100 million funding round in Gurugram-based used car retailer Spinny, Moneycontrol reported.
If the funding talks go through, it will more than double Spinny’s valuation to $800 million from its last fundraise in April this year, when the startup raised $65 million at a valuation of $350 million. The round was led by General Catalyst, and saw the participation of Arena Holdings, Think Investments, Elevation Capital, and The Fundamentum Partnership, among others.
Spinny has raised a total of $120 million to date. In August 2020, the company acquired Mumbai-based Truebil to solidify its position in the Indian used car market.