The edtech start-up is addressing the problem of the employability of Indian engineers, which continues to be as low as 20 per cent
The company, which rents cars by the hour, day, week and month, has Mahindra E2O Plus and Tata E Tigor available on the platform for which it charges a subscription fee of Rs 15,000-20,000 per month
The fund-raising comes at a time when the company plans to penetrate cities and scale up investments and become a key player in the industry
The financing, subject to customary closing conditions, including US antitrust regulatory clearance, is expected to close by year-end
Many of these businesses have real revenues, lower risks and are less capital intensive as customer acquisition does not need to happen in millions," says one early-stage VC firm
As managing director, Anandan will lead Sequoia's Surge, a scale up programme for start-ups
Sequoia also announced the promotions of few key team members
The company has also raised an undisclosed amount in debt from the US-based Silicon Valley Bank
Will continue to focus on sectors, ranging from technology, healthcare, consumer to media, in US, China and India
Singh says the start-up ecosystem in India looks much healthier today than it did same time last year
Might emerge as leading global investor in start-up space in the country, as funds from other sources dry up
Shailesh Lakhani believes raising money should be difficult, otherwise everyone would do it