Existing investors Blume Ventures, Peter Thiel s Mithril Captial and Flipkart founder Binny Bansal s 3State Ventures also participated in the funding round.
The grant takes the total commitments received by the private university in the National Capital Region to ₹2,606 crore. It will be deployed in tranches over five years to accelerate the university s growth, university officials said. "This unrestricted grant is particularly directed to our core - humanities, and will be utilised for research, hiring faculty and creating interdisciplinary research initiatives besides campus infrastructure development," said Pramath Raj Sinha, cofounder and chairperson of the board of trustees of the university.
Sacheti was already an investor or limited partner (LP) in Singularitys first fund, besides being part of its investment committee (IC). Singularity is currently raising its second fund of Rs 1,500 crore and has received a capital commitment of Rs 500 crore as its first close. Sacheti is also a significant LP in Flipkart founder Binny Bansal s early-stage venture fund 021 Capital.
Offshore entities of Indian real money gaming apps are trying to lure customers with social media ads, promising their bets wont be taxed under the 28% slab of the Goods and Services tax (GST). This and more in todays ETtech Morning Dispatch.