European investment firm Sofina is in advanced talks to lead a new round of funding in personal care brand Mamaearth at a valuation of about $700 million (Rs 5,153 crore), The Economic Times report said citing two people in the know.
The financing round is expected to reach up to $80 million, with a primary component of about $50 million.
Private equity firm Kedaara Capital had previously held talks with Mamaearth, but it is not immediately clear whether it would participate in the new round, said the two people.
Last month, VCCircle reported that Mamaearth was in advanced discussions with Sofina to provide exits for two early-stage venture capital funds.
The same month, the European investment firm co-led a bridge round of funding with Sequoia in craft beer maker Bira91.
Japanese conglomerate SoftBank has transferred its close to 40% shareholding in mobile ad services platform InMobi to its Softbank Vision Fund 2, The Economic Times report said citing people.
The development comes ahead of the expected US listing of InMobi, which has hired JPMorgan and Goldman Sachs as advisors to raise up to $1 billion in the IPO, the people said.
SoftBank is expecting bumper returns on its oldest Indian investment once the Bengaluru-based company makes a public market debut.
