DIGITAL PAYMENTS STARTUP TONETAG SECURES $78 MILLION INVESTMENT

Bengaluru-based digital payments startup Tone Tag has raised $78 million in a new funding round, led by stock market veteran Ravi Dharamshi's private equity fund, ValueQuest Scale Fund, along with venture fund Iron Pillar.

- 

Existing investor Elevate Capital also participated in the round.

Iron Pillar has previously invested in startups such as BlueStone, Cure Foods, and others.

Kumar Abhishek, founder of Tone Tag, told ET that the round comprises both primary and secondary capital, but chose not to disclose which shareholders sold their stakes in this round.

In secondary capital, the funds do not go to the company; instead, they are channelled to the selling investors. ET had first written about this impending round in October 2024.