SoftBank Group Corp. (TSE:9984) is in talks to invest $35 million in Targetone Innovations Pvt. Ltd. (GoMechanic), in what would be one of the Japanese investor's smallest bets in India by its Vision Fund, which typically signs bigger cheques, two sources told Reuters.

Vision Fund's early-stage talks with GoMechanic are being held around a valuation of $600-700 million, with Malaysian sovereign fund Khazanah and existing investor Tiger Global also planning to invest in the $100-million funding round, said the two sources familiar with the matter, who declined to be named as the talks are private. GoMechanic and SoftBank declined to comment, while Khazanah and Tiger Global did not respond to requests for comment. Bloomberg News has previously reported Khazanah's interest in the funding round.