Decoding Practo’s $32 Mn fresh round with 50% lower valuation
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After a gap of three years, Practo has raised $32 million in a fresh round with at least a 50% haircut in its valuation. According to regulatory filings in Singapore, Chinese life insurance conglomerate A1A Company has led the round with a $20 million infusion. Existing investors Tencent (via Sky Blue Enjoy) and Sequoia capital pumped in $5.34 and $3 million respectively while Sofina Ventures put in $1.5 million.