BGauss has raised Rs 161 crore from the Bharat Value Fund, while WeWork bagged Rs 500 crore through a rights issue.
BGauss raises $18.5m from Bharat Value Fund
Electric scooter maker BGauss has bagged Rs 161 crore ($18.5 million) from Pantomath’s late-stage venture capital fund Bharat Value Fund in a mix of primary and secondary transactions, according to an announcement on Tuesday.
The company aims to use the fresh capital in its in-house research & development activities for new product launches and to scale up manufacturing, expand its dealership network, and boost its sales and marketing efforts.
Established in 2020 by Hemant Kabra, the company has more than 25,000 retail touchpoints and offers premium but affordable electric scooters. Its scooters are also equipped with AI-powered technology and IoT sensors that provide service updates, anti-theft alerts, real-time battery diagnostics, ride statistics, and find-my-vehicle features.
WeWork bags $58m through rights issue
Workspace operator WeWork India has raised Rs 500 crore ($58 million) through a rights issue to repay debt, reduce cost of capital, and fuel further expansion, it said in a statement.
The investments came from Embassy Group, which owns a 73% stake in the company. WeWork Global holds the balance 27% stake.
Since its inception in India in 2016, the company has offered office spaces in major metros and now manages more than 1 lakh desks in 63 locations in eight big cities across the country that include Mumbai, Bengaluru, Chennai, Delhi, Gurgaon, Noida, Hyderabad, and Pune.
