OfBusiness to raise up to $200 mn, eyes $6 bn value
Live MintChasing a valuation of $6 billion, business-to-business marketplace OfBusiness has approached sovereign wealth funds, private equity funds and crossover funds to raise $150-200 million in a new funding round, three people with knowledge of the development said. The Delhi-based company was last valued at $5 billion in 2021 when it raised $325 million from investors led by Alpha Wave Global, Tiger Global and SoftBank’s Vision Fund 2. The maximum funding raised by a company in 2023 was by omnichannel eyewear maker Lenskart, which raised $600 million from investors in a mix of primary and secondary funding across two rounds. OfBusiness’s latest round will be a mix of secondary and primary funding, with some early backers selling some of their shares, the second person said, adding that the secondary shares are being offered at a discount of 15-20% to the last valuation.
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OfBusiness raises $325 mn in third major fundraise this year
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