India's Spinny lines up $160M funding to acquire GoMechanic, sources say [TechCrunch]
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Source: TechCrunch
The Series G round, which includes a mix of primary and secondary transactions, would value the 10-year-old startup at about $1.8 billion post-money, three people familiar with the matter said, broadly in line with its previous valuation. Nearly $90 million of the round is primary, people said; Existing investor Accel has already wired about $44 million of that amount, with some details of the investment appearing in regulatory filings in India this week, which Indian outlet Entrackr first reported . A new investor is participating in the remaining portion of the primary, but TechCrunch could not confirm its specifics. WestBridge Capital is doubling down in the new round with a check of a similar size to its previous investment, the people said. The firm invested about $35 million to $40 million in Spinny's Series F round earlier this year. Much of the secondary portion of the transaction is being sold by Indian VC firm Fundamentum, according to the people, while Blume Ventures
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