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IT services firm Cambridge Tech Invests Rs 8 cr in US Based Photo Sharing Platform PhotoKarma

30Jan By AdityaNo Comments

FUNDING

IT services firm Cambridge Tech Invests Rs 8 cr in US Based Photo Sharing Platform PhotoKarma

Hyderabad based IT services firm Cambridge Technology has invested Rs 8 crore ($1.3 million) in US-based automated photo-sharing platform PhotoKarma. Idealab, Bessemer and New York Angels are also participated in this investment round. Before this investment Cambridge Tech has also invested in MyCrowd, a crowd-testing platform for website and mobile applications. The investments is aim to create a potential market for CTE's solutions on big data analytics and cloud services. The fund typically participates in the seed stage with a commitment of close to $250,000. "Our focus is on investing in 12 US-based and Indian startups by March 2017 as a means of incubating our clients as well as helping these companies with delivery so that they can focus on marketing and financing challenge...

Info Edge Invested $1.1Million in Mobile Tracker Startup Rare Media

29Jan By No Comments

FUNDING

Info Edge Invested $1.1Million in Mobile Tracker Startup Rare Media

Info Edge Ltd has invested about $1.1 million (Rs 7.4 crore) in mobility-and cloud-based software developer Rare Media Company Pvt Ltd. The investment is expected to support Info Edge’s online realty business 99acres, which already uses Rare Media’s services for its sales staff. Founded in 2012 by Siddhartha Gupta, Delhi-based Rare Media’s field force tracking service, known as Blue Dolphin, is used for employee location tracking and timekeeping on 3G devices. “Rare Media has products in the area of B2B sales force management. We have invested in this company because there is a certain sort of dependency that 99acres has on them,” Bikhchandani said. 99acres uses Rare Media’s mobile-based products for data verification of its sales force. “The Rare Media investment is not a regu...

29Jan By No Comments

FUNDING

Truebil has raised 35 Crores Funding Led By Kalaari Capital and Others

BENGALURU: Truebil, an online market for buying and selling second-hand cars, has raised Rs 35 crore Series-A funding from venture capital investors Kalaari Capital, Inventus Capital and San Francisco-based Tekton Ventures. The rounds also participation from existing investor, Kae Capital. The Mumbai-based startup, whose founders include former Housing employees, is focused on peer-to-peer sales of cars unlike large classified players like CarDekho and CarTrade. "The difference between classifieds players and us is that we handhold a customer throughout the experience, helping close the transaction," said co-founder and CEO Suraj Kalwani. "One thing that we are convinced about is horizontal classifieds will start getting unbundled and specialised. Used-car sales is a large market...

Foxconn Invests in Home Automation Firm WiZN Systems

29Jan By AnkitaNo Comments

FUNDING

Foxconn Invests in Home Automation Firm WiZN Systems

Bangalore-based home automation startup WiZN Systems has raised an undisclosed amount in an angel round of funding led by Taiwan’s Foxconn Technology Group, according to a report in The Economic Times. Kanwaljit Singh, cofounder of FireSide Ventures, and a few other angel investors too participated in the funding round. As part of the investment deal, Foxconn, the maker of Apple iPhone, will manufacture the initial set of hardware devices for WiZN. Moreover, Rahul Chowdhri, former partner at venture fund Helion Ventures, will join the startup’s board as a non-executive director. Founded in 2014 by the former Texas Instruments employee, WiZN Systems’ technology helps connect everyday things to the internet and makes them wise. eGlu, a family of products powered by the company’s tec...

Mumbai Based Startup Truce Raises $370,000 From Inmobi and Snapdeal Founders

28Jan By No Comments

FUNDING

Mumbai Based Startup Truce Raises $370,000 From Inmobi and Snapdeal Founders

Mumbai based Startup Truce, which runs a fresh farm vegetables and fruits supply chain venture has raised 2.5 Crores ($370,000) angel funding from the founders of Inmobi and Snapdeal. Truce co-founder Saurabh Jain confirmed that the firm has raised funding but did not talk on about the details. The founders who invested are Kunal Bahl and Rohit Bansal (Snapdeal, co-founders), Anupam Mittal (Shaadi.com, founder), Amit Gupta (InMobi, co-founder), Utsav Somani and Neeraj Goenka of Mumbai Angels besides Farooq Adam Mukadam of Shopsense Retail Technologies were among the group of investors. Truce was launched last year by Kedar Gokhale and Jain. Gokhale, an alumnus of IIT Bombay. Truce procures fruits and vegetables from farmers across Maharashtra and sells them to mid-large sized restau...

Ratan Tata Invests in Teabox, An Online Start-up That Sells Premium Teas

27Jan By No Comments

FUNDING

Ratan Tata Invests in Teabox, An Online Start-up That Sells Premium Teas

Singapore: Ratan Tata, who stepped down as the chairman of the $100 billion Tata Group in 2012, is taking a stake in an online start-up that sells premium teas, the latest example of the Indian businessman becoming an active venture capitalist in his retirement. Tata is putting an undisclosed amount of money into Teabox, an Indian start-up based in the foothills of the Himalayas. It’s the latest of about 25 personal investments that he has made in start-ups, helping spark an e-commerce boom in India along the way. His investments include stakes in three of India’s unicorns, or start-ups worth more than $1 billion, the ride-hailing app Ola, online retailer Snapdeal and a mobile payment venture called Paytm. He has also put money into Chinese smartphone maker Xiaomi Corp., the most hig...

22Jan By AnkitaNo Comments

FUNDING

Adult Products Based Portal IMbesharam, Has Raised Series A Funding

An Adult products based portal IMbesharam, has raised Series A funding worth $4 million from US-based investors Pavel Vassiliev and Rafiq Hirani. The company was founded by Salim Rajan and Raj Armani in 2011 and claims to have 120 international brands (and 4,000 SKUs) across apparel, adult toys, jewelry, accessories, cosmetics and gift cards for both men and women. The company will launch a US store, 4 warehouses in India, hire employees in India and the US and launch a responsive website this year with the funding. It also plans to use $1 million for a marketing campaign, according to the report. IMBesharam explains why it chose the name on its website, “..We believe we all are Besharam, whether we like to accept it is another story… Because we want to educate people about sex, g...

Puneet Dalmia Invests in “Online Citizen Engagement Platform LocalCircles”

22Jan By AnkitaNo Comments

FUNDING

Puneet Dalmia Invests in “Online Citizen Engagement Platform LocalCircles”

After getting funded by leading industrialists, Anand Mahindra and Nadir Godrej, online citizen engagement platform LocalCircles said Dalmia Group Managing Director Puneet Dalmia has become an investor in the company. LocalCircles, which enables citizens to connect with national and local governance, will use the funds to expand its presence, strengthen technology and recruit more talent, LocalCircles Chief Strategy Officer K Yatish Rajawat said. He, however, declined to comment on details of the investment. "We have a user base of about one million users. We see this growing to about 30 million in the next 3-5 years. We will use the funds to double our presence to 200 cities," he added. Sachin Taparia, Chairman and CEO, LocalCircles said the company represents Social M...

22Jan By NitishNo Comments

FUNDING

Hindi Social Networking web portal “ShabdaNagari has raised $200000 Dollars in Angel Funding”

New Delhi, Jan 22: Hindi social networking portal, ShabdaNagari, today said it has raised $2,00,000 funding from Kanpur angel fund and clutch of other investors. The portal was launched in January 2015, by IIT Mumbai alumni Amitesh Mishra along with Kaplnesh Gupta and Nikhil Tiwari. The funding will be use in its future expansion plans. The Website has more than 20 thousand registered users, 150 thousand unique visits, 6 lakh page visits and over 100 articles being published on the site everyday with 25 per cent repeat traffic, the company said in a statement. Kalpnesh Gupta, Co-founder, ShabdaNagari said “In the online space today, Hindi doesn’t feature in even top 10 languages despite being one of most popular languages. We have a goal of bridging this digital divide. The angel inve...

Ratan Tata Invests in Baby Care Platform FirstCry.com

21Jan By AdityaNo Comments

FUNDING

Ratan Tata Invests in Baby Care Platform FirstCry.com

Top industrialist Ratan Tata has invested in baby care eCommerce platform FirstCry, continuing the slew of investments he has made in various startups globally. The Chairman Emeritus of Tata Sons and Senior Advisor to IDG Ventures India, has invested an undisclosed amount in his personal capacity into Brainbees Solutions, which owns the FirstCry.com brand, the company said in a statement. ALSO READ: Ratan Tata invests in India’s Largest Cashback & Coupons Site CashKaro.com FirstCry is omni-channel player with presence across desktop, mobile and offline routes offering baby and maternity products in India. It started operations in 2010 and has over 2 million customers. It has over 150 FirstCry branded franchise offline stores across 100 cities in the...

Ratan Tata invests in India’s Largest Cashback & Coupons Site CashKaro.com

19Jan By AdityaNo Comments

FUNDING

Ratan Tata invests in India’s Largest Cashback & Coupons Site CashKaro.com

CashKaro.com, India’s largest Cashback & Coupons Site has raised an undisclosed amount from Ratan Tata, the Chairman Emeritus of Tata Sons. Tata has made the investment in his personal capacity. The funding comes just two months after the Gurgaon-based startup raised Rs 25 crores in its Series A funding led by Kalaari Capital, one of India’s leading venture capital firms. CashKaro works on an affiliate model and was founded by entrepreneur couple Swati & Rohan Bhargava in mid-2013. CashKaro had earlier raised USD 750,000 in the year 2013 in angel funding from a group of investors based in London who belong to companies like Paypal, Investec, Goldman Sachs etc. Speaking on the investment, Swati & Rohan Bhargava, Co-founders, CashKaro.com said, “The funding from Mr. Ratan Tata m...

CarTrade.com raises Rs950 crore investment

13Jan By AnkitaNo Comments

FUNDING

CarTrade.com raises Rs950 crore investment

Mumbai: Cartrade.com, an online auto classifieds company also known as MXC solutions Pvt. Ltd has raised Rs.950 crore funding led by Singapore-based investment firm Temasek and March Capital, with participation from existing investor Warburg Pincus. The company had raised $30 million in 2014 from a group of investors that included Tiger Global, Warburg and Canaan Partners. The company was founded in 2009 by Vinay Sanghi. Earlier it had raised $30 million from Tiger Global, Warburg and Canaan Partners. The funding will use to expand its offerings for users and dealers. The company will be looking at a few more acquisitions to strengthen its position in the market. The company operated only on the space of used cars until in November 2015 it acquired Carwale to enter into the new cars s...