VC Fund Investments
2-wheeler financing startup OTO Capital raises $6-M from Matrix, others
Mumbai-based OTO Capital, a startup that helps customers buy or lease 2-wheelers, has raised USD 6 million in a Series A investment round led by Matrix Partners India. The round also involved existing and new investors such as Prime Venture Partners, 9Unicorns and Better Capital and angel investors such as Asish Mohapatra of OfBusiness, Ramakant Sharma of Livspace, Kunal Shah of Cred, K Ganesh of BigBasket, and Ashneer Grover and Suhail Sameer of BharatPe. The company will use the funds to increase its user base, hire talent, and scale up its tech platform. Founded in 2018 by Sumit Chhazed and Harsh Saruparia, OTO is currently present in Chennai, Bengaluru, Pune, Hyderabad and Mysuru.
From the Venture Intelligence PE-VC Deal Database: Between Jul-18 and Sep-19, OTO had raised over $2-M from Prime Venture Partners, RB Investments and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
