Mahaveer Finance on Thursday said it has raised Rs 200 crore in a funding round led by Elevation Capital. Separately, Kuku FM, the audiobook and content aggregator platform, is in advanced talks to raise about $70 million (around Rs 600 crore) in a fresh round led by Granite Asia, according to Moneycontrol.
Mahaveer Finance raises $23m
Chennai-based non-banking finance company Mahaveer Finance on Thursday said it has raised Rs 200 crore ($23.4 million ) in a funding round led by Elevation Capital.
The round also saw participation from Banyan Tree Finance and First Bridge Capital.
The company plans to use the funds to strengthen its governance structure and invest in technology.
Kuku FM nears $70m fundraise
Kuku FM, the audiobook and content aggregator platform, is in advanced talks to raise about $70 million (around Rs 600 crore) in a fresh round led by Singapore-based Granite Asia, according to Moneycontrol.
“Granite Asia will most likely lead Kuku FM’s latest round with a $50 million cheque,” one of the persons cited in the report said. The remaining $20 million or so will come from existing investors like Fundamentum Partnership, IFC, and others, sources added.
The fresh funds will come entirely in the form of primary capital. Talks are still underway, so the round’s construct could change.
