Roposo, a social platform for sharing photos and videos, has raised USD 10 million (Rs 71 crore at current exchange rates) in its latest round of funding led by existing investors Tiger Global Management and Bertelsmann India Investments (BII).
This is the first deal that Tiger Global has led in the Indian market after a three-year hiatus. In October, it raised USD 3.75 billion for its new, and 11th, global venture capital fund, multiple media reports had stated.
Roposo will use the capital to develop its product technology, hire talent and expand its operations, it said in a statement. In late November, the four-year-old startup raised Rs 12 crore (USD 1.7 million) in a fresh round of funding from Bertelsmann India Investments.
Source: VC Circle