Times Internet Invests $4 Mn In Online Content Network InstaMedia
by Deeshesh Chheda | September 09, 2010, 11:03 AM
Content network Instamedia Network has raised $4 million in strategic funding from Times Internet Limited, a subsidiary of The Times of India Group.
Shimla-based firm Instamedia will use the funds to grow its network of writers and accelerate its technology platform development. It also plans to launch local sites, targeting the European and US audiences, which already drive over 60% of the traffic.
Satyan Gajwani, Director of Business Development, for the Times of India Group has joined InstaMedia’s board of directors.
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Lok Capital, Aavishkaar Invest Rs 17.5 Cr In Pune MFI Suryoday
by Deeshesh Chheda | September 01, 2010, 11:35 AM |
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Pune-based MFI, Suryoday Microfinance has raised Series B or second round of funding of Rs.17.5 Cr from Lok Capital and from its existing investor, Aavishkaar Goodwell.
As part of the current transaction, Lok has agreed to make a further infusion of Rs.3.5 crore which will result in a total primary issuance of Rs.21 crore.
The fund raised will be used to increase its loan book and to fund its expansion plans by opening more branches across Maharashtra and also plans to enter in other neighbouring states in the medium term.
Earlier, in March 2009, Suryoday has raised Series A funding of Rs.6 crore from Aavishkaar Goodwell. |
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Aavishkaar Partially Exits Servals Automation, Shree Kamdhenu
by Khyati Doshi | August 26, 2010, 05:30 PM |
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Aavishkaar Venture has partially sold stake in two portfolio companies, Servals Automation and Shree Kamdhenu Electronics, to the US-based Grass Roots Business Fund.
It had invested $0.018mn in Servals Automation for 49% stake in 2002 and $0.04mn in Shree Kamdhenu for 26% stake in 2003.
It sold over 15% stake in Serval Automation, a company that assembles and distributes an energy efficient burner and water-conserving rain gun irrigation product and 2.6% stake in Shree Kamdhenu, a dairy automation firm. |
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Vriti Infocom Raises Series-B Funding From JAFCO Asia, Intel Capital
by Deeshesh Chheda | August 25, 2010, 11:58 AM |
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An exam preparation platform company, Vriti Infocom Pvt Ltd has raised $5 Mn in series-B funding from JAFCO Asia and follow-on investment from its existing investor Intel Capital.
The fund raised will be used for sales expansion besides continuing investment in technology. In 2008, it raised its first round of funding of $2.5 Mn from Intel Capital's Intel Capital India Technology Fund. |
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IFC To Invest In Receivable Management Firm India Collections
by Deeshesh Chheda | August 23, 2010, 10:02 AM |
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IFC will invest $5 Mn in India Collections Management Private Ltd (ICMPL) for a 20% stake, which values ICMPL at $25 Mn.
A receivable management Company, ICMPL is a JV between Mumbai-headquartered Tata Capital Limited (TCL) and Japan's Capital Services Holding Corporation (CSG).
ICMPL is proposed to be established with the objective of offering a wide range of receivables servicing, collection and management services to financial institutions and others in India. |
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| Distil Information Plans To Raise First Round Of Funding |
| IFC To Invest $30 Mn In Kudos Chemie |
| Equitas Micro Finance Raises Rs 45 Cr From Canaan Partners |
| IndoUs Venture Partners Invests Rs 15 Cr In Visionary RCM |
| IFC To Invest Upto $5 Mn In Attero Recycling |
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| Latest DealCurry Notes |
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Symphony Service Acquires US Based CoreObjects Software
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September 09, 2010, 04:05 PM | Deeshesh Chheda
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Bangalore-based Symphony Service Corporation has acquired CoreObjects Software Inc, a Los Angeles-based new product development services provider, that specialises in bringing commercially deployable products to market.
With CoreObjects’ engineering delivery centers in Bangalore and Pune, India and its team of highly skilled full-time product engineers and deep vertical market expertise, Symphony Services will expand its offerings in the product development and embedded product development space.
This acquisition also provides Symphony Services access to additional re-usable components and frameworks for product development, including CoreObjects' Smart Objects suite of software assets designed to speed clients' products to market.
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