ToneTag, an India-based provider of voice-based payment solutions, has raised 674 crores rupees (approximately US$78 million) in its series B2 funding round.

The funding round was led by ValueQuest S.C.A.L.E. Fund, with participation from Iron Pillar, Elevate Inflection Capital LLC, and Elevate Innovation Partners LLC.

The funding consists of both primary and secondary capital.

It is intended to support ToneTag’s expansion into markets such as Asia, South America, and the Middle East.

The company plans to use the funds to scale its operations, enhance research and development, and strengthen recruitment and marketing efforts.