India Roundup: Netflix backer to lead $270m round of Razorpay, and more

Netflix backer to lead US$270 million round of Razorpay 

• VC firm TCV, which has invested in companies such as Netflix and Airbnb, will reportedly lead a series F funding round in fintech unicorn Razorpay.
• The latest investment will supposedly lift Razorpay’s valuation to around US$6.5 billion.
• In September, Salesforce Ventures, the VC arm of the US customer relationship management firm, also invested an undisclosed amount into Razorpay. The fintech unicorn said that the investment would help it expand its business-banking platform.

Paytm shares sink 7.7% ahead of quarterly results

• While the SoftBank-backed company’s shares climbed 32% over the last three days, it’s still below the issue price of 2,150 rupees (US$29.03).
• The slump in Paytm’s share price comes ahead of the company’s release of its quarterly and half-yearly results on November 27.
• Despite plunging share prices, several large investors in Paytm’s IPO have reportedly bought additional stakes in the Indian fintech giant. (Read: Why was Paytm’s market debut a flop?)

Byju’s to buy campus recruitment platform

• Byju’s is reportedly looking to acquire campus recruitment platform Superset for a deal valued in the range of US$20 million to US$25 million.
• As part of the deal, the two founders of Superset will join the Byju’s team.
• Launched in 2018, Superset provides edtech automation and HR tech solutions using machine learning, and other cloud-based technologies. It offers SaaS products to over 375 colleges in India. (Read: Byju’s aims to be profitable by FYE 2022 despite acquisition spree)

Rebel Foods gets additional US$14.5 million series F money

• Rebel Foods has received an additional US$14.5 million in its series F round, according to an Entrackr report.
• The cloud kitchen startup had in October raised US$175 million in the round at a $1.4 billion valuation.
• Rebel Foods has built over 45 brands across 10 countries – India, Indonesia, United Arab Emirates, the UK, Singapore, Malaysia, Thailand, Hong Kong, the Philippines, and Bangladesh.

Currency converted from Indian rupees to US dollar: US$1 = 74.89 rupees.