Holachef, founded in May 2014, curates amateur and professional chefs on its platform, allowing them to sell selected signature dishes.
Deal swung Ola’s way as investors felt that the Indian company, valued at $660 million in its last round of funding, is better value for money.
According to experts, Go Fashion will be betting on women continuing to buy tops and bottom-wear separately.
The deal creates India’s 2nd homegrown & independent venture debt player after Delhi-based Trifecta Capital, which recently started raising its debut fund.
Data from research platform VCCEdge showed that the number of angel and seed deals has consistently increased from 117 in 2011 to 283 in 2014.
Facebook's co-founder Eduardo Saverin, VC fund invest $11 million in local e-commerce site Hopscotch
"I have been actively following the Internet market here and I am thrilled to make my first direct investment," Saverin was quoted as saying.
Silicon Valley-based Bessemer Venture Partners is likely to lead the new round, which is expected to see the valuation of the company cross Rs 1,400 crore.
"2014 will be looked at as an inflection point, the year the world discovered the true potential of the Indian startup."
The eating out market presents a large opportunity for entrepreneurs as it is expected to reach $78 billion by 2018, according to consulting firm Technopak.
Last year, venture funds were a part of 246 deals compared to 227 deals in 2013. This indicates an increase in the size of investments rather than an increase in new investments.
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