December 18, 2014

Deal Alert: Mumbai Angels invests in retail tech co Primaseller

Delhi-based retail technology startup Primaseller has raised funding from Mumbai Angels led by member Dr.Aniruddha Malpani with participation from US-based tech entrepreneur Kishore Ganji and others. The startup provides software as a service platform that helps retailers grow their business by allowing them to manage both brick and mortar stores as well as sell on multiple online channels. It will use the funds to increase the number of online channels offered and build a stronger customer base.

Source: Economic Times

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Deal Alert: Contrarian Drishti leads investment in yellow-and-black taxi aggregator BookMyCab

Yellow-and-black taxis aggregator BookMyCab has raised a Series A round of funding led by impact investment firm Contrarion Drishti managed Contrarian Vridhhi Fund-I. The funding round also saw participation from BookMyCab's existing backers Mumbai Angels and YourNest Angel Fund. The company, which currently operates about 3,000 cabs in Mumbai, will use the proceeds to expand its operations in the northern and southern parts of the country. It recently acquired Hyderabad-based online taxi booking service provider CabOnClick. The company is also in talks with other venture capital firms to raise its next round of funding. 

 
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December 15, 2014

Deal Alert: Unitus Seed Fund invests in education start-ups Curiositi, Cue Learn

Seattle and Bangalore-based Unitus Seed Fund has invested in education-focused start-ups Curiositi and Cue Learn, a month after it roped in Microsoft co-founder Bill Gates and Michael and Susan Dell Foundation as its anchor investors. Founded in 2013 by former Wipro executives Vinod Abraham and Manoj Thandassery, 

Bangalore-based Curiositi partners with schools to affordably transform their science curriculum. Curiositi maps the curriculum to its port folio of over 80 science activity kits and delivers these kits to help students explore activities relevant to them. New Delhi-based Cue Learn provides after-school learning programs for maths and English. The year-old startup, founded by Manan and Jagjit Khurma, has over 25 learning centres and will use the new funds to expand operations across states and add to its product line. 

 
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Deal Alert: Mumbai Angels, others invest in movie sharing app maker Vliv

Vliv, a mobile video tech start-up, has raised seed funding from Mumbai Angels Network and a group of senior executives of technology companies such as Manish Dalal of Verisign, Srini Raghavan of Scientific Games and Pari Natarajan of Zinnov. Vliv makes the app that comes with all the tools needed to create personal movies and share them. Vliv, which has offices in Santa Clara, CA (USA) and Delhi, will use the funds to expand its footprint and launch its next video app simultaneously in over 15 global languages. Vaibhav Suri co-founded Vliv two years ago along with his Yahoo colleagues Ashish Chadha and Kiran Kulkarni. 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

December 14, 2014

Deal Alert: Utthishta picks 9% in alumni portal Vaave

Utthishta Yekum Fund, a Hyderabad-based seed fund, has invested INR 25 lakh to pick a 9% stake in the start-up Vaave promoted by Coherendz India Pvt Ltd. Vaave helps educational institutions build exclusive networking portals for their alumni. About 50 institutions have been using the product to connect with their old students. Vaave also offers a placement and training portal, online events registration and merchandise store. 

Source: Business Line
 
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December 09, 2014

Deal Alert: KITVEN leads Rs.3 Cr investment in IT Services firm Avekshaa

Bangalore-based IT services firm Avekshaa Technologies has raised about INR 3 crore ($500,000) from a clutch of investors, including Karnataka government's KITVEN fund and ex-Infosys CFO V Balakrishnan. The company, founded by former senior executives of Infosys, will use the funds to target the US market and develop technology. The company, currently valued at $8 million (about INR 48 crore) will also be entering the Australian market.

Avekshaa offers software modelling as a service and works with teams to optimise software during development. The company has 18 paying customers, including ICICI Lombard, IndusInd Bank, and HDFC. It expects $2 million (about INR 12 crore) in revenue this fiscal. 


Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

December 08, 2014

Deal Alert: Sequoia invests in local retail delivery firm Grofers

Gurgaon-based Grofers which has developed an app that helps customers get goods delivered from shops around them, has raised funding from Sequoia Capital India. Founded by Saurabh Kumar and Albinder Dhindsa, Grofers has 200+ people and has expanded to Mumbai and Bangalore. The company has tied up with over 150 merchants, processes close to 33,000 orders every month and generates 20 new leads per outlet every month. 

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Bridge Capital invests Rs. 2.8 Cr in talent hire firm Youth4work

Delhi-based Youth4work, a start-up offering pre-assessed talent for-hire to companies, has raised INR 2.8 crore in bridge capital from Aurum Equity Partners, Global Asia Partners and UK-based angel investor Dan Sandhu. Founded by Rachit Jain in 2012, Youth4Work offers a platform where individuals showcase their talent and skills in which they are tested and ranked. The company has 5 lakh users and aims to reach one million users in the next eight months. It will use the funding for enhancing marketing, user experience and the team. The company's user base spans to 250 cities across India, with a network of 5,400 colleges and 9,000 registered recruiters. Its clients include Microsoft, Adobe, Mahindra and Aon Hewitt. 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: CIIE, IIM-A alumni invest in low-priced sanitary pads maker Aakar

The Centre for Innovation Incubation and Entrepreneurship (CIIE) at the Indian Institute of Management, Ahmedabad (IIM-A) has led an investment in Aakar Innovations, a maker of compostable sanitary pads. The round received participation from Artha Platform, a philanthropy community. Aakar’s sanitary pads are produced and sold by women entrepreneurs in their own villages. So far, around 22 machines have been sold across India of which 15 are already operational. The rest will be functional by mid-December. 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

November 29, 2014

Why Lightspeed said yes to mobile dating app Vee

Extracts from a post on the Lightspeed Ventures India blog (emphasis mine):

Traditionally, young Indian women and men have struggled to meet new and like-minded people owing to various socio-cultural constructs. Consequently, most social interactions are limited to friends and family. Online dating, while promising, could not solve this problem. Fake profiles, in-appropriate behavior, cumbersome matching process, low internet penetration were some of the key challenges that prevented online platforms to flourish.
...Vee leverages the power of mobile along with a product approach that is entirely focused on women. Through features such as anonymous browsing, male loyalty enforcement (limited simultaneous connections), abuse reporting – Vee places the power in the hands of women with an aim to become a trustworthy platform for them. In addition, mobile based hyper-local elements enable instant and relevant matching.
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

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