Near, a data intelligence SaaS platform, secured $100 million from Blue Torch Capital to enhance growth as it nears a public offering through its merger with KludeIn I Acquisition Corp. (Nasdaq: INKA). This funding strengthens Near's balance sheet, positioning it as a leader in data insights. The merger aims to unlock opportunities by leveraging Near's analytics of around 1.6 billion unique user IDs and over 70 million points of interest across more than 44 countries.
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KludeIn I Acquisition Corp (NASDAQ: INKA) and Near Intelligence Holdings, Inc. announced a definitive business combination to take Near public. Following the merger, Near will have a pro-forma market capitalization of nearly $1 billion. The transaction is anticipated to yield $268 million in gross proceeds and includes a $100 million equity financing facility. Near leverages data from 1.6 billion user IDs to provide privacy-led data intelligence, targeting a $23 billion total addressable market. The company aims to accelerate growth and expand its global reach.