Top Story


Home >> Digital >> Article announces $8 million venture capital investment by WestBridge Capital Partners

Font Size   16
Share announces $8 million venture capital investment by WestBridge Capital Partners has secured an investment of $8 million from India’s largest and most active venture capital fund, WestBridge Capital Partners. Sandeep Singhal, Managing Director, and Sumir Chadha, Senior Managing Director, at WestBridge will join the board of the company as a part of this deal.

Anupam Mittal, Chairman and Managing Director, People Group, said, “Once again we have chosen to go with WestBridge Capital Partners as the lead investor not just for the financial investment that they bring, but also because of their ability to understand and act in local conditions. They are a great partner to have and I am confident that together we will build one of India’s leading Internet companies. With this round we have raised a total of $18 million between our two flagship brands – Mauj (People Infocom Pvt Ltd) and (People Interactive Pvt Ltd). Raising capital for two group companies simultaneously is a huge undertaking and is a testament to the quality of organisation our team has been able to build. The capital will be used to further expand our businesses through acquisitions and organic growth.”

On the occasion, Sandeep Singhal, Managing Director, WestBridge Capital Partners, said, “Anupam and his management team have built the company into India’s leading Internet company. We believe that this company will generate enormous shareholder wealth over the coming years while continuing to be a highly valuable company from a social standpoint. The company services truly changes the lives of millions of Indians and NRIs around the world.”

Sumir Chadha, Senior Managing Director, WestBridge Capital Partners, said, “We are very excited to be the lead investor in and other businesses under the umbrella of People Group. We have been very impressed with the rapid growth, high margins and capital efficiency of the businesses. The company is very well positioned to continue to grow rapidly and maintain its leadership in the Indian Internet landscape.”

Just last week, People Group had announced a $10 million investment deal in its group company, People Infocom (Mauj Telecom) with a consortium of investors – WestBridge Capital Partners, Intel Capital, and Sequoia Capital. This is People Group’s second venture capital deal in two weeks and brings the total amount raised to $18 million.


Bhasin on the checks and balances of new IRS, methodology with new companies like Vedsur on board, interpreting the data and why it’s not fair to compare with previous data

Chitresh Sinha, CEO, Chlorophyll Innovation Lab and Vivek Singh, Joint MD, Procam International speak exclusively with exchange4media on the upcoming #BeBetter Campaign for the TATA Mumbai Marathon

Abhishek Punia, Co-founder and COO of ARM Worldwide, tells about how they re-branded themselves from ARM Digital to ARM Worldwide and in the process marked their presence globally

Srinivasan opens up on what prompted their recent rebrand, their foray into bus depots and developing the software that displays Bengaluru Metropolitan Transport Corporation's (BMTC) Passenger Information System for all the major bus depots in Bangalore.

With 17 partners and sponsors across categories, the scale of Tata Mumbai Marathon comes across as commendable as it has managed to clock 44,407 registrations and set prize money of US$405,000

In top five programmes of BARC week 2, Zee TV’s prime time shows Kundali Bhagya and Kumkum Bhagya grabbed the first two position with 12533 Impressions (000s) and 11275 Impressions (000s). The re-run...

According to Flurry’s “State of Mobile 2017” annual wrap-up report, Lifestyle and Gaming Apps categories are on a decline