Mumbai based venture debt lender IntelleGrow is in the market to raise a fresh round of funding and is targeting anywhere between Rs 150 crore and Rs 200 crore (between $25 million and $34 million). The company has held discussions with several global investors and international development agencies. It expects to raise the targeted amount over the next 15-20 month in the form of long term debt, nonconvertible debentures and equity.
Tag / Venture Capital
Norwest launches $1.2 bn global fund
Norwest Venture Partners, the Palo Alto, California headquartered venture and growth capital investor, has closed its latest global fund at $1.2 billion. Dubbed Norwest Venture Partners XII, LP, the fund will target early and later stage investments across sectors. The new fund takes Norwest’s total capital and commitments to approximately $5 billion and follows the firm’s previous $1.2 billion fund which it started investing in 2010.
iYogi seeks $55 mn for global expansion
On-demand tech support services company iYogi is in the market to raise $55 million to fuel a global expansion drive that will see it seed to establish a presence in Latin America and Europe this year. It also has China, parts of Africa and Southeast Asia on its radar in the medium to longer term.
Unitus Seed Fund invests in mGaadi
India Drivers Network Services, a Bangalore based startup that operates auto rickshaw booking service mGaadi, has raised an undisclosed sum in a seed funding round from Unitus Seed Fund. The company will use the funds to further develop its network of auto rickshaw drivers, enhance its technology platform and expand operations in Bangalore and other metros.
Ventureast joins Series C investors in Pinnacle Engines
Pinnacle Engines, a San Carlos, California based developer of ultra efficient engine designs, has raised an undisclosed sum in a Series C funding round from a group of investors. The new investors in the round include Mitsui Global Investment, Ventureast and an unnamed strategic OEM partner.
Justdial FY 2014 net profits up 76%
Justdial, the Mumbai based local search and listings company, yesterday reported its numbers for the financial year ended March 2104. It closes the year with operating revenues at Rs 461.29 crore, up 27 per cent from Rs 362.77 crore in the previous financial year. Net profits grew 76 per cent to Rs 120.62 crore.
Happiest Minds closes FY 2014 with $34 mn revenue run rate
Canaan Partners backed Happiest Minds Technologies, the software services and consulting company started by Mindtree founder Ashok Soota, is reporting an annual revenue run rate of $34 million at the close of its second financial year, ended March 2014.
The Hive leads $1.5 mn round in Big Data startup Colabo
San Carlos, California based Colabo, a provider of intelligent sales acceleration solutions, has raised $1.5 million has raised a venture round led by The Hive, the Big Data focused incubator and seed fund based in Palo Alto, California. A group of private investors including Paul Maritz, Raghu Raghuram and Ray Rothrock participated in the round.
Art Loft raises seed round from East Ventures
Five must haves of a successful online marketplace
By Sergio Monsalve, Norwest Venture Partners
I have spent more than 15 years of my career building, investing in, advising, and studying online marketplaces. I am convinced marketplaces possess very unique and fascinating characteristics, which are often counter-intuitive and easily misunderstood. By “marketplaces,” I am referring to a central exchange of goods or services whereby a large fragmented supply/seller base meets in one concentrated place to sell to a large and fragmented demand/buyer base. Continue reading →