“Paytm Mall is planning to close the new round of funding by end of this year and is talking to financial investors from Asia and the US,” said one person close to the development.
The investment, being structured via convertible note, could value robotics firm at between $300 million & $500 million.
International backers include Facebook co-founder Eduardo Saverin's Velos Partners besides institutional investors like Quilvest and Axis Capital.
Mumbai-based company to rope in ICICI Securities and Edelweiss Financial Services for the public listing, which may land investor WestBridge Capital a whopping 75-80 times return.
The deal, if it goes through, will be part of Alibaba and Alipay’s global play as Zomato has a strong presence in Southeast Asia and Middle East as well.
Misra was emphatic that SoftBank will continue to bet on hungry founders, but acknowledged that founders' egos often come in the way.
"What BigBasket has been missing is deep-pocketed investors till now, and if this deal goes through they will not have to worry about capital," said a venture capital investor tracking the space.
021 Capital will invest up to $2 million each in startups across sectors, including biotechnology, agriculture and internet.
Last week, SoftBank acquired a $2.5-billion stake in Flipkart, taking its total investments in Asia’s third-largest economy this year to $6 billion.
GST, marketing blitz, and a focus on popular products pay off for online grocer
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