The company plans to use the funds to expand in Tier-2 and Tier 3 cities by employing technology as well to build a strong in-house team which could also enable the business to run successfully across 300 destinations
Bessemer plans to apply its roadmap-driven investment approach to deploy the new capital over five roadmaps across consumer internet and cloud software, including marketplaces, digital health, etc.
The funding will help CoreStack continue its rapid pace of growth and innovation with its AI-powered continuous and autonomous cloud governance at scale, while also making strategic headway with expansion into new markets.
The Mumbai-based company said in a statement it plans to use the funding to augment the company’s goal to deliver 6-8X growth in the next 5 years.
The company said in a press release that it will use the funds to expand its global footprint and invest in commercial, medical, technology and data science talent.
The startup said it plans to use the fresh funds to expand its healthcare offerings and hire more talent across technology, product and data science roles.
In a press statement on Monday, the company said that it would leverage the proceeds to consolidate its position by acquiring further talent and expand into the top thirty-five Indian cities by 2023.
Ashok Hariharan, founder and CEO at IDfy, said a billion more people globally are expected to enter the formal economy over the next 5 years.
The investment will provide Skybar access to the additional services of the Encubay network that include $2 billion worth of business credits and discounts.
Sun Mobility said in a statement this strategic investment will enable significant acceleration and expansion of the company’s services across India and select global markets.
The Mumbai-based company said in a statement it will use the funds to enhance its platform to innovate and penetrate deeper into the ecosystem in order to provide working capital solutions.
Vedant Katiyar, cofounder at Onato, said more than 60 per cent population of India is dependent on agriculture and yet tech penetration in the agri-supply chain is quite low.
India's captain Virat Kohli plays shot during the day three of their second test cricket match with New Zealand in Mumbai.AP Photo/Rafiq Maqbool
New Zealand's Ajaz Patel bowls during the day three of their second test cricket match with India in Mumbai.AP Photo/Rafiq Maqbool
New Zealand's Ajaz Patel celebrates the dismissal of India's Mayank Agarwal during the day three of their second test cricket match with India in Mumbai.AP Photo/Rafiq Maqbool
India's Cheteshwar Pujara plays shot during the day three of their second test cricket match with New Zealand in Mumbai.AP Photo/Rafiq Maqbool
India's Cheteshwar Pujara, right, along with Mayank Agarwal looks on during the day three of their second test cricket match with New Zealand in Mumbai.AP Photo/Rafiq Maqbool
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