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 challenges. The services to the startups are provided by CTE independent of the involvement of Cambridge Innovation,” said Aashish Kalra, chairman of CTE and former managing director of Trikona Capital.