The company hopes to raise the funds by early next year. It received a Rs 5 lakh grant from the Department of Science and Technology in November 2010 and raised an undisclosed amount from two Pune-based IIT alumni last January.
Nexus Venture Partners is on a roll. The Mumbai-based venture capital firm has just closed its fourth deal within a fortnight with a $4 million Series A investment in cloud publishing platform developer GENWI. Nexus led this round of funding with existing investors Inventus Capital Partners and Quest Venture Partners pitching in with follow-on funds. [...]
Delhi-based group buying site MyDala has reportedly raised $3.6 million in Series B funding from Naukri.com promoter Info Edge India. This is Info Edge’s second round of investment in the firm within just six months. MyDala earlier raised a little over $2 million from angel investors Ajay Relan, Jayanta Basu and a couple of undisclosed [...]
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 [...]
Sequoia Capital-backed electronic television programme guide What’s On India has raised an undisclosed round of funding from Intel Capital and existing investors Sequoia and Nexus Venture Partners as part of a Series C round. Intel Capital is investing from its $250 million India-dedicated fund. The deal was announced last week as part of an aggregate [...]
Bangalore-based automobiles classifieds portal CarSingh has raised an undisclosed round of funding from Seeders Venture Capital, a seed investment firm that works out of Bangalore and Kolkata. The portal offers information and reviews about used and new cars along with finance and insurance services. Seeders, founded by entrepreneurs Abhishek Rungta and Pallav, is among a [...]
On Wednesday, Intel Capital, the venture capital investment arm of chipmaker Intel, announced the $300 million Ultrabook Fund, which will invest in companies building hardware and software technologies for its new range of ultra-thin laptops. The chipmaker had announced the Ultrabook project in May, laying down the roadmap for laptops that would be thinner and [...]
This week, Nexus Venture Partners completed its fourth exit within a year with the acquisition of portfolio company MagicRooms by travel portal Yatra Online. Details on the value of the transaction were not available. Nexus had invested $1.5 million in Magic Rooms last July for an undisclosed stake. MagicRooms, founded by 53-year old Niranjan Gupta, [...]
IDG Ventures India has made a $3 million Series A investment in Mumbai-based mobile ad network Vserv. The company focuses on emerging markets and has developed full-screen in-app advertising for J2ME applications out of India. It also works with WAP publishers and is currently extending its advertising solutions into Android applications, said a press release. [...]
Indian Angel Network has invested $1 million in Bangalore-based embedded software tool developer Vayavya Labs. The company will use the funds to expand its suite of tools for electronic systems level design and strengthen sales and marketing, said a press release. Former Yahoo India R&D head Sharad Sharma and Vivek Raghavan, who currently heads Magma [...]
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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