Music streaming service Gaana raises $115 mn led by Tencent
Noida-based music streaming service Gaana is raising $115 million led by Chinese internet conglomerate Tencent Holdings, which will acquire a minority stake in the music startup. Founded in 2011, Gaana competes with Apple Music, Tiger Global-backed Saavn and Xiaomi-backed Hungama. Tencent's last investment in India was in cab-hailing company Ola, where it led a $1.1-billion funding round.