For Flipkart and Snapdeal, this festival season will be about establishing their dominance, but they are unlikely to give margin-eroding discounts.
Saavn, which recently raised a $100-million round of funding, has roped in former Vodafone global CEO Arun Sarin as an investor and strategic advisor.
The decision to invest also comes at a time when Snapdeal is making an ambitious bid to build a complete ecommerce-focused ecosystem.
Capabiliti, a self-service platform, helps onboard, train and assess remote employees, vendors and clients of companies employing field workforces like sales agents and delivery boys.
The fund raising, expected to begin formally in October, will mark the launch of the third India fund for the technology investor.
“The investors in the round are still being finalised and it is getting oversubscribed, so it may be expanded a bit,” this person said.
Reputed startup founders like Kunal Bahl and Sachin Bansal are now the first port of call for entrepreneurs seeking money for their emerging businesses.
The VC firm is now looking to step up its pace of investments, deploying the fund across 15-20 companies in the next 12-24 months.
Since launching operations in March this year, Bestdealfinance has already received over 6,000 applications for loan.
ADV was co-founded in 2013 by Mount Kellet Capital's India head Suresh Prabhala along with Brad Landes and Jianyi Zhu, who also worked at the investment firm.
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