Now, Interstellar Platform Holdings Pte Lte of L Catterton has paid Rs 1,894.50 crore for a 0.39 per cent stake in Jio Platforms. The company on late Sunday night announced that chip-maker Qualcomm was investing a sum of ₹730 crore for a 0.15% stake in the company.
Prior to Qualcomm ventures, Intel Capital, social media firm Facebook, Abu Dhabi's two largest sovereign investment arms - Abu Dhabi Investment Authority and Mubadala, private equity firms Silver Lake (which invested in two tranches), Vista Equity Partners, General Atlantic, KKR, TPG, L Catterton and Saudi Arabia's Public Investment Fund (PIF), have invested in Jio Platforms.
The Indian Express is now on Telegram. In total, Jio Platforms has so far raised Rs 1,18,318.45 crore within 12 weeks.More news: Sydney pub cluster grows as another hotel linked to virus cases
Some investors have told TechCrunch in recent months that Reliance Jio Platforms' owner - India's richest man, Mukesh Ambani - and his closeness to the ruling political party in India are also crucial to why the digital unit of Reliance Industries is so attractive to many.
Steve Mollenkopf, CEO of Qualcomm Inc.
Mumbai-based RIL has now raised a combined Rs 118,318.45 crore from some of the world's leading tech investors in the largest fundraising exercise by a company anywhere in the world and during a global lockdown at that.
Commitment from Qualcomm came just days after Reliance disclosed that the company has closed investment deals with four investors. Silver Lake purchased 2.1% of the shares.More news: Mourinho walks out of press conference due to technical problems
The transaction is subject to regulatory and other customary approvals. Qualcomm Ventures has been a known investor in the Indian startup ecosystem with investments in Portea, Capillary Technologies, Bounce, ideaForge, Fab Hotels, Ninjacart, Shadowfax etc.
Jio Platforms - which is also amassing a wide range of services from music streaming to online retail and payments - is expected to use its 388 million mobile phone subscribers as the cornerstone of an e-commerce and digital services business to rival Amazon and Walmart's Flipkart.
Ambani had in August a year ago announced talks for sale of a 20 per cent in the oil-to-chemical (O2C) business to Saudi Aramco for United States dollars 15 billion.More news: United States to put 25% tariffs on French goods