In the recent developments in early stage investment opportunities in India, India Internet Group (IIG) has added a location based product search platform Findable.in to its portfolio. The fund formed in April 2011 usually invests $50,000 to $300,000 (up to Rs 1.6 crore) in a startup.
Findable.in is an information service provider that offers its users information on various services or products might be available in stores near them. Though currently it seems like the locality is limited to Mumbai users only. It uses HTML5 and tag based search. The mobile version is also not available, where the utility of such platforms can be more on mobile devices with the world moving towards Social, Local & Mobile.
IIG will be looking to invest in 8-10 tech startups this year. Its clear focus is India focused Internet & Mobile technology startups. Other portfolio companies of IIG include InVenture, 24/7 Techies, Saavn, The Wild East Group, Abreakplease.com, EkSMS, StepOut. Its team include Anirudh Suri, Nihal Metha, James Pallotta.