Investments, News

Funding roundup: Uniken, StyleSeat and more

Pune based Uniken to raise INR 30 crore from Nexus Ventures

Uniken, a Pune and USA based digital security technology provider will be raising INr 30 crore from Nexus ventures. According to research firm Gartner, the information security market is projected to reach $67 billion (Rs 4.1 lakh crore) in 2013 and grow to $95 billion (Rs 5.9 lakh crore) by 2017. The firm plans to use the raised funds to further leverage the massive market opportunity.

Founded in 2003, it was established by former senior executives of Infosys including Sanjay Deshpande, Nanjundeshwar Ganapathy and Nilesh Dhande and Prakash Salve, who worked at IMR global.

It currently competes with organizations such as RSA — a division of EMC — Symantec and Vasco and its clients are spread across various categories including banking, financial services and insurance

The firm has filed three patents and expects to file 12 patents in next one year. “Uniken is disrupting the digital security space with this platform that provides military grade security with rich digital experience,” said Sandeep Singhal, managing director at Nexus.

California based StyleSeat raises USD 10.2 Mn from Lightspeed Ventures

StyleSeat, an online marketplace for beauty and wellness services, recently raised USD 10.2 Mn in Series A financing, bringing total funding raised to date to $14 million. The investment was led by Lightspeed Ventures with participation from existing investor Lowercase Capital. The team will use the capital to help fund its growth, and create new experiences for clients to discover and book appointments.

Founded in 2011 by Melody McCloskey, the online and mobile platform serves both sides of the marketplace. It gives beauty professionals free tools to run, manage and grow their business as well as its clients a place to discover and book appointments online or from their phones with professionals in their area.

The company has grown rapidly since its inception with more than USD 350 Mn  in services booked on the platform. At present more than 2 Mn clients use the online portal to book beauty appointments and over 200,000 beauty professionals use the platform to manage their business. On average, beauty professionals using StyleSeat are able to grow their revenues 68% in their first 15 months on the platform.

“Historically, we have been primarily focused on developing powerful business tools for beauty professionals, and in doing so we have built an amazing directory of professionals in almost 15,000 cities across the U.S. As we begin to focus on our clients in addition to professionals, we’re well positioned to drive significant growth across our platform in 2014″, said Melody McCloskey, co-founder and CEO of StyleSeat”

Last month, StyleSeat also launched a new app for iOS and Android that allows anyone to book beauty appointments right from their phone, for free. Since the launch of the new app, client bookings on mobile devices are up more than 16%.

Noida based iProf Learning Solutions raises USD 9 Mn in Series B

iProf learning solutions, a Noida based eLearning company has raised USD 9 Mn in Series B round of funding. The investment round was led by Daily Mail Group Information (DMGI) along with participation from existing investors, Norwest Venture Partners and IDG Ventures India.

Earlier, the firm has raised INR 22 crore in Series A from its existing investors in 2011.

It plans to use the funds raised to reach out to CBSE schools across the country to pitch its new product, SchoolEra, a fully automated school management platform.

The company provides education content with the help of Tablet PC’s based on advanced android application. It enables students to learn and revise concepts for school curriculum (class IX to XII) & important entrance tests like IIT JEE (Main & Advance), AIPMT (NEET), CA-CPT & more.

Also, it provides digital content in both Online and Offline (Pen Drive, SD Cards, Tablet PC & Mobile based) mode of content delivery to students in a secured and scalable environment.

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