The investment arm of Xiaomi, Shunwei Capital had raised a $1.21 billion fund in November last year, promising a significant chunk, approx $1 billion to be invested in India.
The first startup to get a piece of this cake is Chalo.com. The daily commute solutions startup has been in talks with both parent Xiaomi and Shunwei Capital to raise funds.
The duo is reportedly picking up close to 10 per cent stake in the company for around Rs 50
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