India Funding Roundup: A Website Builder for Photographers, a Social Network, and More

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  1. Indx TechStyle

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    Apr 29, 2015
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    India Funding Roundup: A Website Builder for Photographers, a Social Network, and More


    Our latest roundup that look at startups that received funding over the course of the week sees late stage investments in startups targeting the SME sector, retail banking, and big data, as well as seed investments in photo curation, social networking, and on-demand concierge services.

    SIFTR Labs
    Venture Catalysts, an India-based seed investment platform dislosed on Monday its $150,000 (roughly Rs. 1 crore) seed investment in Noida-basedSIFTR Labs. Founded in 2015 by Romil Mittal and Mayank Bhagya, SIFTR Labs aims to assist photographers in managing their photography with a self-updating photo website that curates digital images using machine learning.

    Gurgaon-based Power2SME, a B2B group buying marketplace targeted at small and medium enterprises has reportedly raisedaround $20 million (roughly Rs. 140 crore) from Nandan Nilekani, with participation from existing investors Accel Partners, Kalaari Capital and Inventus Capital. Founded in 2012 by R. Narayan, Power2SME reportedly has over 30,000 SMEs on its platform.

    Gurgaon-based on-demand concierge service startup,Qlivery, has reportedly raised an undisclosed amount of funding from Chandigarh Angels Network. Founded in 2015 by Karan Saharan, Chetan Agarwal, Sonal Saraogi, Shivani Agarwal and Rohit Pansari, the startup plans to scale its operations and enhance the implementation of AI, while providing assistance to customers. The service costs Rs. 75 for the first five 5 kilometres, and Rs. 5 per kilometre after that.

    Electronic Payment and Services, (EPS), a retail banking technology and automated teller machine (ATM) services provider, has received a $25-million (roughly Rs. 169 crores) funding from UK-based Apis Partners. The funding is reportedly in exchange for a minority stake and board representation in th company.

    Big data-as-a-service companyQubole announced that it has closed a $30 million (roughly Rs. 203 crores) Series C financing round led by IVP. Existing investors CRV, Lightspeed Venture Partners and Norwest Venture Partners invested additional capital into the company as part of the financing. Headquartered in Mountain View, with an office in Bengaluru, Qubole will use this funding to expand the availability of its a self-service platform for big data analytics, which now processes 250+ petabytes of data each month.

    Ahmedabad-based PlexusMD a social networking platform for doctors has reportedly receivedthe backing of Arihant Patni and Avnish Mehra. Founded by IIM grads Dr. Rohan Desai and Binal Doshi, the platform reportedly has over 15,000-plus registered doctors.
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