Darwinbox raises $40 Mn funding from Canada’s OTPP

Software-as-a-service (SaaS) firm Darwinbox has secured $40 million in a funding round from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan.

Prior to this, the Hyderabad-based company had raised $140 million in March this year in Series D funding round from Partners Group and KKR along with participation from Gravity Holdings. It has raised $280 million till to date. Soon after the fundraise, it also announced an ESOP buyback plan worth $10 million. 

Co-founded by Jayant Paleti,…