Onsurity raises $26 million from Creaegis, others
Onsurity has raised Rs 219.7 crore (around $26.2 million) in a funding round led by private equity firm Creaegis. The round also saw participation from existing investors Nexus Venture Partners and Quona Capital.
According to a regulatory filing with the Registrar of Companies (RoC), Onsurity’s board has approved a special resolution to issue 10 equity shares and 6,302 Series B1 compulsory convertible preference shares, priced at Rs 3,48,089 each, totalling Rs 219.7 crore.
Creaegis invested Rs 176.4 crore, while Nexus Venture Partners and Quona Capital contributed Rs 31.4 crore and Rs 11.9 crore, respectively.
The Bengaluru-based company plans to allocate the funds towards growth and expansion, as well as meeting working capital needs.
News website Entrackr was the first to report this development.
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