Singapore-headquartered location-based mobile advertising platform AdNear has raised Rs 35 crores ($6.3 million) in Series A funding from Sequoia Capital and Canaan Partners. The funds will be used to help the firm expand to the Asia Pacific region and increase headcount.
Alok Mittal, managing partner at early stage venure capital firm Canaan Partners, thinks that the ecommerce party in India is just beginning, but the focus will shift to innovation.
Alok Mittal, managing partner at early stage venture capital firm Canaan Partners, talks about why venture capital is getting entrenched in India, despite soaring ecommerce valuations.
Canaan Partners has invested $4.4 million in Mumbai-based Loylty Rewardz Management as part of a Series B round of funding, said a press release. The company helps brands achieve customer retention by studying behavioural patterns and installing appropriate rewards and recognition mechanisms. In 2009 it had raised a reported Rs 6 crore ($1.2 million at [...]
Gurgaon-based legal services outsourcing firm UnitedLex Corp co-founder Ajay Agrawal has sold his entire stake in the company to venture capital firms Helion Venture Partners, Canaan Partners and Sequoia Capital. The three, according to reports, now hold an 18.1 per cent stake in the company following a $17 million investment. While Helion and Canaan were [...]
Canaan Partners has announced the appointment of Rahul Khanna, former director at Clearstone Venture Partners, as managing director for its India investments. Khanna joins Canaan’s leadership team here led by Alok Mittal, Deepak Kamra and Harish Gandhi. He will focus on early stage deals in the consumer Internet, mobile, software and managed services sector, said [...]
Canaan Partners has signed up former Yahoo! India research head Sharad Sharma as its first ‘entrepreneur-in-residence’ (EIR) in the technology space. Sharma will work with the Canaan team, both in India and the US, in developing a startup business model in the cloud computing space. The most famous and successful EIR project out of India [...]
Wiki defines a business plan as a “formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals.” Two phrases in this crisp definition become important to us – why goals are attainable and the plan for reaching them. We have discussed two basic [...]
Update: TiE-Canaan announced the winners of its entrepreneurial challenge on Saturday — Equitas, Druvaa and iKen. More details here. The TiE-Canaan Entrepreneurial Challenge 2008 finalists have been in the public domain for some time. Three winners will be chosen out of the eight finalists. Here’s a quick look at some of them: Equitas Micro Finance [...]
Accelerator to angel to VC flow still struggling to find equilibrium in India
I had fun moderating the panel on early stage financing at India Internet Day. VCCircle has an interesting article. The key issues are as under: 1. Too few deals are progressing from accelerators to angel, and from angel to Series A. Only five per cent of deals going from accelerators to Series A might not [...]
The early ecommerce marketplace pioneers: eBay class of 2000-2005
TechCrunch recently published an article I wrote about how the eBay class of 2000-2005 helped shape ecommerce in Silicon Valley and continues to innovate and move the sector forward. By understanding what shaped this class’ experience and examining where these alums are today, we identified the most important industry trends and start to see a [...]
The founder’s guide to surviving the Series A crunch
The Indian entrepreneurship and venture capital ecosystem is fast maturing. Today we have more early stage funds than ever. This fund availability will only improve, aside from the temporary blips caused due to macroeconomic ups and downs. We are in one such ‘crunch’ today, where even though seed and angel funds are writing cheques with [...]
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