peak xv

Peak XV Partners (formerly Sequoia Capital India) and Tiger Global are among a bunch of investors that have held talks to acquire a stake in SoftBank-backed ecommerce firm Meesho in a secondary deal, people in the know said.Some angel investors and other early backers of Meesho are likely to sell shares worth around $200 million, these people said. The transaction is likely to take place at a valuation of $3.5-3.9 billion, depending on the final terms, they added.Elevate Your Tech Prowess with High-Value Skill…

Happy Friday! Peak XV Partners and Tiger Global are among investors likely to pick up secondary shares in ecommerce firm Meesho. More details in a packed edition of ETtech Morning Dispatch.Also in this letter:■ How VCs are planning exits ■ Cabinet nod for AI mission■ Flipkart to start q-commerce Peak XV, Tiger Global in talks to pick Meesho secondary stakeA group of investors including Peak XV Partners and Tiger Global has held talks to acquire a stake in SoftBank-backed ecommerce firm Meesho in a secondary deal, sources…

Ashneer Grover, cofounder and former managing director of BharatPe, has written to the Reserve Bank of India (RBI), asking the banking regulator to initiate an investigation into the shareholding of the Peak XV-backed company. BharatPe is a joint-venture partner in Unity Small Finance Bank with the Centrum group.Grover said in a letter dated March 6, addressed to RBI governor Shaktikanta Das, that BharatPe has deliberately “defrauded” the regulator by bringing back Bhavik Koladiya, who was convicted of a wire fraud in the…

Venture capital firm Peak XV, formerly Sequoia Capital India, on Monday said it has launched a new startup cohort Spark 03 with 14 companies that includes 16 female founders. Artificial Intelligence (AI) and healthtech dominate this cohort with four companies in AI and four in healthtech, while others in the group are engaged in building software as a service (SaaS), consumer and B2B platforms, Peak XV said. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership…

Peak XV, the venture capital firm that split from Sequoia Capital last year, is taking its portfolio companies from India, Southeast Asia and Australia on an “immersion” trip to Silicon Valley this week to meet several industry titans, the latest in the venture firm’s broadening offerings and networking flex. About 60 founders, many backed by Peak XV’s powerfully influential program Surge, will join partners from the firm on the trip to meet industry leaders and visit AI research centers,…

A group of large investors in Byju’s has called for an extraordinary general meeting where they seek to change the leadership at Byju’s days after the edtech group launched a rights issue at $25 million pre-money valuation. The consortium of investors said it has called for the EGM following “many months of continued efforts” to address the “persistent issues” at Byju’s, which at the time of its last fundraise in 2022 was the most valuable edtech globally. It initially issued the request for EGM…

The Delhi High Court in a recent order instructed social media applications like Telegram, WhatsApp and YouTube to take down any accounts operated through a specific mobile number which was impersonating venture capital firms Peak XV Partners and Sequoia Capital. The accused impersonated the venture firms to create bogus investment platforms that duped many unsuspecting investors. While the exact amount that people were cheated of is not known, some people took to public platforms to say they had lost as much as Rs 30…

SentinelOne’s deal to acquire PingSafe values the Peak XV-backed young startup at over $100 million, two sources familiar with the matter told TechCrunch, in one of the strongest and fastest exits emerging from India. The New York Stock Exchange-listed AI security firm disclosed the cash and stock deal to acquire the two-year-old Indian startup last week, but didn’t reveal the financial terms. SentinelOne, PingSafe and PeakXV didn’t immediately respond to a request for comment. The terms of the…

Semiconductor startup Mindgrove Technologies is working on a second chip it said was an 'incremental advance on the first,' a senior executive at the Chennai-based firm told ET. The Peak XV Partners-backed startup said that the design for this chip is currently underway, and it is targeting a prototyping run in about 18 months."It is a quad core with support for external memory and an integrated GPU (Graphics Processing Unit)," said Shashwath TR, cofounder and CEO, Mindgrove Technologies. "This chip is targeted at…

Office sharing startup Awfis Space Solutions has filed a draft red herring prospectus (DRHP) with markets regulator Securities and Exchange Board of India (Sebi) for its initial public offering (IPO).The Peak XV Partners-backed company said it plans to issue fresh shares worth Rs 160 crore in addition to an offer-for-sale (OFS) component of over 10 million shares.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk…