Bessemer leads $10 mn Series B in TaxiForSure

Serenditpity Infolabs, the Bangalore based startup that runs cab hailing service TaxiForSure, has raised $10 million in its Series B round of funding led by Bessemer Venture Partners. Existing investors Accel Partners, Helion Venture Partners and Blume Ventures have participated in the round.

You need to login to view the rest of the content. Please . Not a Member? Join Us

Sumit Jain on CommonFloor’s first acquisition, growth plans

Last week, Bangalore based maxHeap Technologies, which operates real estate search and listings platform CommonFloor, announced its first acquisition with Mumbai based Flat.to, a property listings platform focused on students and single professionals. The acquisition came just months after CommonFloor raised $10.4 million in a growth funding round from existing investors Accel Partners and Tiger Global Management. The platform, which claims more than 3 lakh active property listings and over 10,000 paid customers, is concentrating on pushing aggressively into mobile and expanding its ground presence beyond the existing 18 cities.

CommonFloor CEO Sumit Jain, who founded the company in 2007 with Lalit Mangal and Vikas Malpani, spoke to us last week about Flat.to, acquisitions, bootstrapping, fundraising and what’s coming up next. Edited excerpts:

You need to login to view the rest of the content. Please . Not a Member? Join Us

Flipkart-Myntra merger talks stall — Report

Some new developments on the rumoured merger of fashion ecommerce player Myntra with rival Flipkart. The Wall Street Journal is reporting that ongoing talks on the merger have stalled. Myntra is apparently seeking a guarantee that it will be allowed to operate as an independent entity post merger and also expects a cash infusion of up to $150 million.

You need to login to view the rest of the content. Please . Not a Member? Join Us

Venky Natarajan on Lok Capital’s first non MFI exit

Delhi based impact venture capital investor Lok Capital, which manages $85 million across two India focused funds, booked a partial exit from portfolio company RuralShores on Tuesday earning a 6X return on its original investment. The exit is a milestone for the firm — its first non microfinance exit — and validates its 2012 shift in strategy to diversify away from the then troubled microfinance sector (read more about why it decided to change lanes).

Bangalore based RuralShores falls within what Lok Capital terms its ‘livelihoods improvement/ generation’ investment thesis. We spoke to Lok Capital managing partner Venky Natarajan on the exit. Edited excerpts:

You need to login to view the rest of the content. Please . Not a Member? Join Us

Fabindia’s Bissell invests $2 mn in ed-tech company Foradian

Bangalore based Foradian Technologies, a company that develops enterprise software solutions for the education sector, has raised $2 million in a Series A funding round from William Bissell, promoter of ethnic clothing and home products retailer Fabindia. Foradian will use the funds raised to add more features to its flagship product Fedena and take the product to new markets across the globe.

You need to login to view the rest of the content. Please . Not a Member? Join Us

Tiger Global leads Series A in Gray Orange Robotics

Gray Orange Robotics, a warehouse automation solutions startup based in Singapore, has raised an undisclosed sum in a Series A funding round led by Tiger Global Management. Existing investor Blume Ventures participated in the round, along with a group of angels.

You need to login to view the rest of the content. Please . Not a Member? Join Us

Lok Capital scores 6X partial exit from RuralShores

Lok Capital, the Rockefeller Foundation-backed impact venture capital firm, has completed a partial exit from BPO company RuralShores. The financial details of the exit have not been disclosed. However, the firm said that it has earned a 6X multiple on its initial investment, made from the Lok Capital Fund I. The investment was made in 2009.

You need to login to view the rest of the content. Please . Not a Member? Join Us

Vantage Circle gets angel round from Raghu Bathina, others

Delhi based Bargain Technologies, which owns and operates Vantage Circle, an online privilege platform for corporate employees, has raised Rs 1.2 crore ($198,048) in an angel funding round. The angel group includes former Citrix Systems senior director Raghu Bathina. The company will use the funding to expand its market presence and offer clients more innovative solutions.

You need to login to view the rest of the content. Please . Not a Member? Join Us

Top 10 VC funding deals in Q1 2014

Indian venture capitalists closed 86 deals in Q1 2014, investing in companies based both in India and overseas. The top 10 deals from the quarter involved an aggregate investment of $281 million, according to data compiled by StartupCentral. Out of these, three — online video platform Kaltura, solar lighting systems maker D.Light Design and ad network PubMatic — were investments into companies based in the US.

Here are the top 10 deals from the Indian venture capital industry in Q1 2014:

You need to login to view the rest of the content. Please . Not a Member? Join Us

SirionLabs raises $4.7 mn Series A from Sequoia

Gurgaon and Michigan based SirionLabs, an enterprise software company founded by UnitedLex co-founder Ajay Agrawal, has raised $4.58 million in a Series A funding round from Sequoia Capital. Additionally, Agrawal has personally invested Rs 12 crore ($1.96 million) in the round. The funding will be used to accelerate product research and market development.

Agrawal, who also serves as an entrepreneur-in-residence at CodeX, the Center for Legal Informatics at Stanford University, confirmed the deal and ticket size to in an email to StartupCentral yesterday.

You need to login to view the rest of the content. Please . Not a Member? Join Us