Accel India | Pixr8 News

3Dec By PriyankaNo Comments

BUSINESS

Accel India Raises $550 Million Fund

Founded in Silicon Valley 35 years ago, VC firm Accel Indian subsidiary Accel India raises its sixth $550 fund. This is the largest fund amount Accel India has raised so far. "Accel India raises its first fund in 2005, the world was a very different place. Just one in 50 Indians had access to the internet and mobile phone ownership was nascent,” the company said in a press statement. India now has 600 million internet users and the country is also the home of more than 10,000 startups. Over the last 15 years, Accel has invested in more than 100 of these startups. “When we partnered with Freshworks in 2011, software-as-a-service as a category from India was almost non-existent. Our first cheque was $1 million when the company had six employees. Today, it has more than 2,500 employ...

Mumbai Based Web Testing Platform BrowserStack Raises $50 Million Funding

Mumbai based mobile and web testing service platform BrowserStack raised $50 million venture funding from led by venture fund Accel Partners ( Accel US and India). The six-year-old Mumbai-based company now valued more than $400 million. The company was operating on bootstrap model and running profitable from last six years and this is also be the largest series A round for an Indian tech startup. The platform is used by over two million developers in 135 countries. It has more than 25,000 paying customers, including Microsoft, Twitter, and Mastercard. The majority of its customers are based in North America. Founded in 2011 by IIT Bombay alumni Ritesh Arora and Nakul Aggarwal, BrowserStack helps developers test their applications across thousands of operating systems. Accel's Rya...

Zenoti Raises $15 million From Norwest VP & Accel

Zenoti a SaaS based startup which provides cloud-based software for spas and salons has raised Rs 100 crore ($15 million) led by Norwest Venture Partners along with existing backer Accel India. Zenoti had already received funding of Rs 38 crore from Accel last year. The Seattle and Hyderabad-based company founded by serial entrepreneur Sudheer Koneru, now plans to aggressively expand operations in the United States and European markets. Zenoti already earns about half its revenues from clients in the US including large chains like Massage Green and Massage Heights. In India it has clients like Kaya Skin, Enrich Salons, O2 Spas and Blush Clinics. It recently also got Naturals on board with all its 600 outlets throughout the country. In the US market, Zenoti will compete with player...