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Collin Furtado · · 1 min readSources: Sequoia, Beenext to pour $4m in Indian spiritual-tech startup
“Sequoia Capital India and Beenext Ventures are in the last leg to invest in a spiritual startup led by one of the former founders of Trell,” reported Entrackr, citing three people with knowledge of the transaction.
Details:
- Sequoia and Beenext are in advanced talks to invest US$4 million in spirituality-focused AppsForBharat, according to one source.
- The investment in the Indian startup comes at a post-money valuation of US$16 million, said another source. The term sheet has been completed and the deal is expected to be announced soon.
Context:
- Incorporated in November 2020, AppsForBharat aims to develop mobile and web apps designed to help users cater to their spiritual and devotional needs.
- Based on regulatory filings cited by the report, the company had raised about US$200,000 from Sequoia Capital India and Trell, an Indian lifestyle social commerce platform, within six months of its launch.
Editing by Eileen C. Ang
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