News of Kunal Shah raising $30m for his new startup has been doing rounds since last few weeks. Yesterday, trusted sources access by Live Mint confirmed that the deal is through. This will be the biggest seed-round ever raised by a startup in India.
The round is led by Sequoia and Ru-Net. Both the investors had invested in Kunal’s earlier venture- Freecharge. Snapdeal had acquired Freecharge for $400m in one of the biggest deals in Indian e-commerce segment.