Floor price set at Rs 555, 8% discount to last close
The firm, earlier known as SAIF partners, will be deploying the full fund in the next 2-3 years
The other investors include DCM Shriram Promoters Family and SAIF Partners
The company plans to utilise the money to further strengthen its technology and network coverage. Rivigo has a network coverage with more than 29000 pin codes in India
The seed round will be utilised for launching its consumer product and hiring a core team