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Venture Capital | 6 September 2013

Klip.in Secures Funding From Mumbai Angels, VentureNursery

by Charmi Gutka

@Smursh, the company behind Klip.in has secured undisclosed investment from @VentureNursery’s angels and Mumbai angels, Iamwire states.

Recently in July, the company had raised funding from VentureNursery Angel to build technical resources for product features and building initial user base.

KLIP is a Season-2 graduate of VentureNursery’s acceleration program that concluded in April 2013.

Founded by Harsh Gadia and Maneesh Madambath, Smursh Ecommerce Pvt Ltd was established in 2011. Klip is a product aggregating company that helps online shoppers discover lifestyle products that they find interesting. It is a social discovery and curation tool for e-commerce. KLIP’s larger agenda is to connect people with products they like, regardless of where those products are. Klip.in's tool is platform independent as it is looking to tap the mobile segment.

The company has recently launched a new version of the website with new UI and backend technology.
Klip is also witnessing increase in consumer activity on the website and in past one month it had witnessed a steady growth in terms of user base and the amount of time people spending website.

To Read More.

Patni Brothers To Launch Incubator Cum Fund - Hive Technologies

Amit and Arihant Patni, the eldest of the Patni brothers are set to launch Hive Technologies, a venture replicating the model of US based The Hive, to incubate and invest in data analytics startup, ET state. The venture aims to invest R1.3 to R13 Cr in data analytic startups across the country that are already generating revenues with an exit horizon of 8-10 years.


FreeCharge Secures Series B Funding

Freecharge, an online platform for recharge, utility payments, promotions and couponing, has raised $33 Mn (c.INR 2,000 Mn) from existing investor Sequoia Capital India along with new investors Belgium-based investment firm Sofina and Russian Internet and technology investor ru-Net. The Series B infusion will be taken to build up its transactional advertising offerings.

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