StayZilla Raises $500K from Indian Angel Network

Chennai-based budget hotel rooms aggregator StayZilla has raised $500,000 as part of its first round of funding from Indian Angel Network (IAN). The company offers an inventory of 4,000 hotels in 600 Tier I, II and III towns. Rooms in over 350 towns can be booked online through the StayZilla site. The funding from IAN will be used to expand its…

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Gamiana Raises Sub $1 Million From Indian Angel Network

Mumbai-based online gaming startup Gamiana Digital Entertainment has raised an angel round of funding of under $1 million from Indian Angel Network (IAN). The company will use the funds to launch its first multi-player game, Jamia Online, in Turkey at the end of this month. It will follow shortly with the launch of an English language version of the game…

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Peel-Works Raises Sub $1 Million Angel Round from IAN

Delhi-based Indian Angel Network (IAN) has announced an angel investment of Rs 3.25 crore ($600,000-plus) in Mumbai-based Peel-Works, a cloud-enabled sales force transformation and BPO startup. The investment will be used to expand the company’s product offerings, create technology differentiators and human capital. The company will host productized sales force consulting and transformation solutions on the cloud and charge customers on a pay-per-use…

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Sadeesh Raghavan on angel funding BoP startups

Sadeesh Raghavan has been investing in Indian startups as an angel investor for about four years through the Delhi-based Indian Angel Network. His most recent deal was a seed round in WebEngage (earlier known as WebKlipper), which offers online feedback and survey tools to websites. Prior to becoming an angel investor, Raghavan, led Accenture India’s domestic business as managing director…

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InnovizeTech Revs Up for Fifty New Customers

Pune-based InnovizeTech Software’s four founders – Shirish Deodhar (in photo), Madhukar Bhatia, Swati Deodhar and Hemant Joshi – are preparing for a big year in 2012. Their cloud-based software product Sapience, which began as a just-for-fun project in early 2009, has started to gain traction in the Indian market. Next year, nearly 40 per cent of the company’s overall spends…

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HeadStart Ventures to Plug Funding Gap with Angel Fund

When Kallol Borah wrote in last week to introduce his latest venture, HeadStart Ventures, I was a bit confused. Borah also happens to be a co-founder of the HeadStart Network Foundation, a not-for-profit entity which hosts the popular startup showcase event HeadStart. The two, it turns out, are not related and there is some acrimony brewing on that front. But…

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Making Angel Investing Work

Canaan Partners hosted a breakfast roundtable with over 30 angel investors on December 22 in Mumbai. The objective was to brainstorm on constructive ways in which the potentially large angel community in India can engage better with young entrepreneurs. Alok Mittal, general partner, Canaan Partners, sums up the roundtable. Also check out his thoughts on a potential investment structure for…

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India Venture Capital Stats: 2009

Disclosed venture capital investments in 2009, by my count, stood at just under $150 million. The total number of deals announced was 59, out of which 28 did not disclose the investment amount. This is as per numbers collated from deals reported by various media and announced in press releases. Not all these deals are verified and in many cases…

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