After having backed companies like eyewear retailer Lenskart, news aggregation platform Dailyhunt, and health and fitness startup Curefit from its $100 million Fund-I, Epiq is eyeing domestic capital for its new vehicle.
Bikhchandani, who still owns more than 15% in Zomato after its initial public offering (IPO), said his company, Info Edge, will continue to remain a long-term investor in the startups it is backing.
The government’s initiative is being led by a growing perception that internal policies of social media companies--most of which are headquartered in the US--are 'arbitrary' and is leading to 'online harm' and 'discrimination' for users.
The investment brings the total capital raised by the Bengaluru and Seattle-based company to $100 million, with the Series C round coming a little over four months after the company closed a $30 million round led by Scale Venture Partners.
The social media giant asked that the lawsuit be dismissed with prejudice, which would make it harder for the agency to amend the lawsuit.