While this could not be independently verified by ET , if true, this would make the company the fastest from the country’s startup ecosystem to achieve the Unicorn status. Losses for the period, however, soared to Rs 137 crore, up from Rs 5.5 crore in the year ended March 2016, as per the company’s financials accessed through research platform Tofler. Separately, Warburg Pincus also declined to comment, while SAIF Partners did not respond to a questionnaire sent to them on Saturday evening.It is, however, unclear if the latest funding is part of a larger capital raising round. Last year, Japanese investor SoftBank was believed to have held discussions with the company for a possible investment, but the status of the same remains unclear. In the last couple of years Rivigo has emerged as investors’ favourite.Prior to the latest round, it had already raised more than $100 million in equity and debt financing, and had been valued at about Rs 2,800 crore, or $440 million, when it closed its previous funding round in November last year.

Source: Economic Times January 15, 2018 02:48 UTC