Social networking app Kutumb raises $26-M Series A led by Tiger Global

Bengaluru-based Primetrace Technologies Pvt Ltd, which operates Kutumb, a private social network app for communities, has raised INR 192 crore (about USD 26.4 million) for a 14.60% stake. The Series A round was led by Tiger Global, with a INR 134.65 crore (USD 18.5 million) contribution, with participation from other new investors Quiet Capital (USD 3.08 million) and rocketship.vc (USD 1.03 million). Existing investors Sequoia Capital India (via its Surge fund) and Whiteboard Capital also invested as part of the new round. The investors will be alloted 2,919 Series A CCPS at an issue price of INR 657,140.76 each. Post deal, VC investors will hold a 30.43% stake in the company (on a full diluted basis) with Sequoia Capital India holding 15.94%, Tiger Global 10.25%, Whiteboard Capital 1.96%, Quiet Capital 1.71% and rocketship.vc 0.57%.