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Sandeep Goyal, Chairman of Mogae Media, has raised around $15 million to fund the acquisition of digital startups while Vodafone India is planning to file its draft initial public offering (IPO) documents by September.

Mogae Media Raises $15M Fund to Acquire Digital Startups

Sandeep Goyal, Chairman of mobile and marketing service provider, Mogae Media, has raised around $15 million to fund the acquisition of digital startups. The new fund will be used to make late stage investments in the Digital Media and Mobile Innovation verticals as well in service sector startups, especially in the F&B, logistics, eCommerce, mCommerce and Cab pick-up space (local mobility) with mobile enabled platforms.

“Analytics, mobile ad serving platforms, programmatic buying on the mobile, mobile fulfillment and mobile targeting are areas that Mogae Media is keenly focussed on. Any acquisition or investment in this space intrigues the interest of the company immediately,” said Sandeep Goyal.

Mogae Media was launched in 2012 by Sandeep Goyal and his wife Tanya Goyal, the company had tied up with brands like Kellogg’s India, Urban Clap, Star TV, Hero, TATA Motors, Yes Bank, Axis Bank, Kansai Nerolac, Discovery Channel, DSP Black Rock and Max Life Insurance, etc.

Vodafone India to Raise Upto Rs 18,000 crore Via IPO

Vodafone India Ltd, the Indian unit of Vodafone Group Plc., is planning to file its draft initial public offering (IPO) documents by September and will likely seek to raise Rs.15,000-18,000 crore.

“The kick-off meeting with the Tier-I banks Kotak, Bank of America and UBS happened a few weeks ago and work has started full swing on the documentation part. The company is looking to file the draft red herring prospectus (DRHP) by the month of September,” said two people familiar with the development.

The share sale will largely be a primary capital fund-raising exercise which will go towards reducing the debt on its balance sheet, on account of spectrum purchase, as well as towards capital expenditure.

In October 2015, Vodafone India announced that it would spend Rs.13,000 crore for capacity augmentation and new business initiatives. Since starting operations in India in 2007, Vodafone has invested over Rs.1.1 trillion in India. The telco has 194 million customers in India and reported revenue of Rs.42,352 crore in 2014-15, an increase of 12.6% from the previous year.

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