In Brief: Arijit Sengupta joins Saverin’s B Capital as operating partner; PhonePe prepares for 2023 public listing

In Brief: Arijit Sengupta joins Saverin’s B Capital as operating partner; PhonePe prepares for 2023 public listing
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24 Aug, 2020

B Capital Group, a global venture capital firm launched by Facebook co-founder Eduardo Saverin and Silicon Valley based investor Raj Ganguly, announced the addition of its newest operating partner, Arijit Sengupta. Based out of B Capital’s Singapore office, Sengupta will offer business guidance to the firm’s technology-based portfolio of companies in Asia and the world, Saverin said in a LinkedIn post on Monday. The firm has a portfolio of about 30 companies spread across Asia, Europe and the United States. Its India bets include digital ledger application provider KhataBook, packaging materials marketplace Bizongo, dockless bike-sharing rentals Bounce, logistics solutions platform BlackBuck, and mobile point-of-sale services provider startup Mswipe.

PhonePe prepares for 2023 public listing

Walmart-owned digital payments firm PhonePe is preparing for an initial public offering (IPO) by 2023 and is eyeing a valuation of $7-10 billion, according to a Business Standard report on Monday. The company's foray into financial services is going to play a key role in the firm becoming profitable and going public, the report added.

ClearTax launches e-invoicing solution for enterprises

ClearTax, a software provider for GST compliance, income tax compliance and investment-related products, on Monday said it has launched an e-invoicing solution to help businesses with Invoice Reference Number (IRN) generation and e-invoice management. The product, which can be integrated with any ERP (enterprise resource planning), includes features such as in-built validations, intelligent analytics, customised template printing and bulk upload, the statement added.

Tech Mahindra, NITI Aayog partner to support women entrepreneurship

Digital transformation services provider Tech Mahindra on Monday said it has collaborated with government think tank NITI Aayog's Women Entrepreneurship Platform (WEP) to support women entrepreneurs across the country. Tech Mahindra will provide mentorship, co-create solutions leveraging new age technologies and support in developing a go-to-market strategy, the statement added.

Co-working space marketplace startup Passwork raises angel funding

Mumbai based co-working space marketplace startup Passwork on Monday said it has raised an angel round of funding from angel investors Gaurav Gandhi and Vivek Bhargava. It did not disclose the amount raised. The startup was founded in 2019 by Mohit Malara, a chartered accountant with experience in investment banking, venture capital and the NBFC sector. Passwork claims to be the Uber for co-working. It operates through its network of over 90 operators, over 500 accessible locations, and over 20,000 workstations, according to a statement.

Commvault announces new VP

Global enterprise software provider Commvault on Monday said it has appointed Sunil Mahale as vice president of sales engineering and emerging technology in the Asia-Pacific-Japan (APJ) region. Mahale has previously headed multiple regional positions in other enterprises such as NetApp and EMC, the statement added.