Darwinbox secures $40 million funding from Canada’s OTPP

Hyderabad-based software-as-a-service firm Darwinbox has secured a $40 million investment from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan, according to a company statement on Thursday. ET had reported last week that the human resource solutions provider was in talks with the Canadian pension fund to raise funds.

OTPP makes its growth equity investments through the Teachers’ Venture Growth vehicle and has backed Indian startups including Mintifi, Perfios and Xpressbees.

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