Kirana-tech startup Khatabook on Tuesday stated it has raised $100 million as a part of its Sequence C funding spherical, led by US-based enterprise capital companies Tribe Capital and Moore Strategic Ventures. The capital was raised at a valuation of $600 million.
Different traders who took half within the spherical embrace Alkeon Capital and current traders B Capital Group, Sequoia Capital, Tencent, RTP World, Unilever Ventures and Higher Capital.
It additionally noticed participation from former and present common companions of Andreessen Horowitz, together with Balaji Srinivasan and Sriram Krishnan, who invested of their private capacities.
Alongside this spherical, Khatabook will even be shopping for again $10 million price of worker inventory possession plan (ESOP) shares to acknowledge and reward workers, ex-employees and early traders who contributed to the corporate’s progress. Eligible workers will be capable of promote as a lot as 30% of their vested choices, the corporate stated. With the fundraise, Khatabook has additionally expanded its ESOP pool to $50 million.
Khatabook will even faucet proceeds from the fundraise to launch monetary companies choices for its service provider companions.
“The primary section of our journey was enabling digital transformation by constructing a tech ecosystem for Indian MSMEs (micro, small and medium enterprises). Now that we’ve got created a broadly accepted digital platform, the following step will probably be digitally-enabled monetary companies for small companies. We’re humbled by our traders’ confidence in our mission to assist native companies succeed by offering them with the correct digital empowerment,” stated Ravish Naresh, chief government officer and co-founder, Khatabook.