In Brief: Google, MobiKwik to introduce mobile recharge search, Iron Pillar may raise $30 mn

In Brief: Google, MobiKwik to introduce mobile recharge search, Iron Pillar may raise $30 mn
Photo Credit: VCCircle
19 Feb, 2020

Google has collaborated with Sequoia Capital-backed digital payments platform MobiKwik to introduce prepaid mobile recharge search for India. A user can now search for, compare and recharge prepaid mobile plans from MobiKwik through a Google search, the companies said in a joint statement. “India is a 97% prepaid  mobile market -- a billion Indians like to pay as they go -- buying talk-time minutes or data packs at least twice a month. So Indians were, in any case, searching for queries such as best prepaid recharge, and now the mobile recharge search experience enables users to do so in a more structured manner, redirecting them to MobiKwik,” Upasana Taku, co-founder, MobiKwik, said.

Read: Mobikwik targets Rs 1,500 crore in loan disbursements for FY20
Iron Pillar in talks to raise $30 mn add-on fund

Venture capital fund Iron Pillar is in talks to raise a $30 million add-on fund, financial daily Mint reported. With its new fund, the company will invest in its existing portfolio companies, which includes online meat seller FreshToHome and phone service management firm Servify, the report said. Iron Pillar is a growth-stage investor and invests between $7 million and $15 million in Series B and Series C rounds of funding, the report said.

As more investors eye Dream11, valuation may soar to $2.25 bn

Multiple investors like homegrown private equity firm Chrys Capital and co-founder of Facebook Eduardo Saverin’s investment vehicle B Capital Group may undertake a sizable secondary transaction in Mumbai-based online fantasy sports platform Dream11, The Economic Times reported. Dream11’s valuation is set to hit $2.25 billion, the report added. The deal will include a $100 million secondary transaction and a $20 million primary round.