Investments, News, Startups

IIG backs SnapLion, soon to raise another USD 3-5 million to invest in startups

Early stage internet and mobile technology fund, India Internet Group has announced its investment in instant app builder Snaplion. The investments was made in quarter 2 of this year and the amount of funding has been left undisclosed by the company.

Orios Venture Partners, Blume Ventures, Indian Angel investors including, Rajan Anandan, Sandeep Soni, and Gaurav Sharma, and Silicon Valley Angels including Nickhil Jakatdar(CEO Vuclip, Silicon Valley), and Piyush Shah has also invested in Snaplion alongwith IIG

Snaplion, led by a four member founding team, with Nikhil Sama as the CEO is an online platform for users to easily create and manage their own iPhone and Android Apps, to engage with their fans and followers realtime.

It charges with a single-price subscription for building and publishing the app on iTunes and Google Play depending upon the the type of celebrity one is, such as a Photographer, Actor, Restaurant, Movie Studio, etc. There is no activation, hosting, support fees, or per-feature pricing charges. It also provides unlimited photo, music, podcast and video content uploads and imports for the owner of the app.

Nikhal Sama’s, Social gifting venture Giftology, has also raised an undisclosed round of seed funding from Kiran Sidhu, chairman of the European prepaid cards provider.

With this IIG has announced that it will be raising another round of  USD 3-5 million to continue investing in new startups and follow on investments in existing portfolio companies.

Other than Snaplion, recently IIG also invested in Kolkata based social targeting and ad optimisation platform, Tookitaki which raised on the spot funding from Anirudh Suri, cofounder IIG, Ravi Gururaj and Ramesh Kumar Shah, co-founders of HBR Alumni Angels India.

India Internet Group is led by Nihal Mehta and Anirudh Suri and its other portfolio companies include Findable, Saavn, Breakplease, etc.

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