NEW DELHI :
Private care model mCaffeine has raised $15-20 million in a brand new spherical of funding to gas its natural enlargement plans and in addition consider inorganic progress alternatives, mentioned two individuals conscious of the event.
It has acquired commitments from new investor Singularity AMC and current institutional backer Amicus Capital, the individuals cited above mentioned on situation of anonymity. A spokesperson for Singularity confirmed the deal however didn’t disclose particulars.
Singularity AMC, backed by investor and former Reliance Capital government Madhusudan Kela, arrange Singularity Development Alternatives Fund-1 (SGOF-I) to offer progress capital to technology-driven corporations.
mCaffeine can also be in superior talks with just a few startups for an acquisition in magnificence care, cosmetics and male grooming areas.
Supply: Live Mint