Location-based social network Public App raises $41 million, Valuation doubles to $250 million

Location-based social network Public App has raised Rs 300 crore (about $41.3 million), led by A91 Partners, and participation from existing investors – former Tiger Global top executive Lee Fixel’s Addition, SIG Global and Tanglin Venture Partners.

The latest funding, which comes around six months after it had picked up $35 million last year, values Public at $250 million post-money, a person in the know told ET on the condition of anonymity. This is more than double its previous valuation of $120 million when Fixel’s Addition led Public’s financing round, as reported first by ET. The company, however, declined to comment on its valuation.