Sequoia Capital invests USD 15 Mn in Girnar Software
Jaipur based Girnar Software, which is behind companies like CarDekho, BikeDekho and PriceDekho has raised USD 15 Mn in a new funding round led by Sequoia Capital. Shailesh Lakhani, Principal, Sequoia Capital India Advisors, will be joining the company board.
Girnar will be using the funds for Cardekho expansion plans. Cardekho, is the flagship service of Girnar, it currently works with over 2000 new and used car dealers, including organized used car dealers like Mahindra First Choice and Carnation.
Further the company plans to launch an array of dealer-focused tools and services based out of mobile platform. “Consumers can also expect an enhanced mobile app experience which will not only allow them to instantly click photos and list their used cars, but also enable them to connect with new and used dealers and read reviews on the go,” says the company.
BikeDekho.com (a similar portal for bikes) and PriceDekho.com (a price comparison site for gadgets) are newer offerings from Girnar Software.
Globally operating, emerging market focused investment bank Elara Capital was the sole financial advisor to the transaction.
Realty Compass reveals angel funding, looking to raise Series A
Chennai based property search engine Realty Compass has recently revealed the angel funding which it has raised a few months back. The funding amount has been used by the company for product development, and in gathering data which it claims to be 10 times more than any other property portals.
Unlike other property portals where builders list on the website, Realty Compass itself lists about the builders and it charges INR 700 – 800 per lead from the builder. It has taken the contact number for each builder, which is connected to builder’s enquiry number on a real time basis.
Now the company is in the advance phase of Series A, and is in talks with 4-5 investors.
The company is currently doing business of INR 20 lakh from Bangalore and Chennai every month and gets more than 4k users and around 50 calls everyday.
Currently its services are available in Chennai, Bangalore, Coimbatore and Hyderabad and will be expanding to Delhi and Mumbai in the coming time. It will also be launching telephone service in next 10 days.
Omnivore Partners invests in agro-tech startup – Eruvaka Technologies
Vijayawada based , Eruvaka Technologies, which develops on-farm diagnostic equipment for aquaculture farmers to reduce their risk and increase productivity has raised its Series A round of funding led by Omnivore Partners. Eruvaka integrate sensors, mobile connectivity and decision tools for affordable aquaculture monitoring and automation.
This is Omnviore’s 7th investment in India.
“We want to capture 10% of the Indian market in the next two years. We will use the capital raised to hire a sales force and increase our reach. We will invest in research and development for creating new products, including optimization of seed consumption,” said Sreeram Raavi, founder and managing director of Eruvaka Technologies.
Eruvaka Floating Buoy measures the water parameters that are crucial for shrimp growth and survival and this data is uploaded to cloud and it helps farmers to take quick decisions for shrimp growth and survival. By using its mobile app farmers can monitor their pond data from smartphone, it also provides real time voice alert to farmers mobile. It’s cloud analytics platform suggests farmers to adjust the feed based on water quality data, helps them to get better FCR (Feed Conversion Ratio).
Candidly raises angel funding
Snapchat like image sharing app Candidly, where users can click and share images which disappear other persons’ phones after 10 seconds, has raised its angel funding. Candidly’s app is currently in beta, and will be using the funds raised to proceed for test marketing.
The users can click pictures, add comments on them in voice or text messages and share them with friends.
Candidly was founded by Vinay Bharathwaj, who had previously co-founded Confluenze Technologies, Mindspaze Educational Solutions, iBrahma Creations and IEF Solutions.
The development was first reported by Techcircle.
The app is available to download from Google Play Store.
Travelkhana raises funding from Rajan Anandan and Palaash Ventures
New Delhi based online food delivery service has closed a funding round led by Google India head Rajan Anandan and Palaash Ventures, says reports.
Founded in 2012, Travelkhana allows rail passengers to order food while they are travelling, customers can choose the restaurant by using their train number or PNR and view the available options in the cities on their route. The meal is delivered at a pre-decided station and payment can be made online as well as on delivery.
Last month there were reports it was raising funding from Palaash Ventures and investors like Axind Software CEO Matteo Chiampo.
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