To widen its exposure to digital businesses, Vivek Goenka-owned publication house, The Indian Express Group has invested an undisclosed amount in four startups – PayMango, Mr. Homecare, Envoged and Spiral Content Solutions.
It’s competitor BCCL is known for investing in Indian tech startups through its digital arm Times Internet. Hindustan Times too has launched an accelerator program for digital media and ad tech startups in June 2015. Traditional media houses are seeing Internet as a lucrative space as they continue to make strategic investments in companies where they see synergies. Below are the 4 startups that caught Indian Express’ attention
Gurgaon based PayMango was founded in October 2014 by IIT-D graduates Gajinder Singh and Ram Singla. It is a horizontal mobile marketplace, which matches demand with local supply. For consumers, the startup acts as a gateway to discover, engage, and transact that covers local stores, merchandise, deals, promotions and events across all categories. For merchants, it is a hyper-local sales and customer acquisition platform. The company has raised over Rs.1 crore of seed funding from Internet/financial entrepreneurs, which is mostly being used to build the product and acquire the local supply in Gurgaon. In July, the firm was in advance talks to raise over $1 million in Series A funding from a VC firm.
Mumbai-based Mr. Homecare was started in 2015 by Sahil and Rushabh Vora. It is owned and operated by SILA, which is in the facilities management space, managing over 6 million square feet of commercial real estate with over 1500+ employees. Mr. Homecare offers on-demand home services including Air Conditioning, Car Care, Cleaning, Handyman Services, Motorcycle Care, Painting, Pest Control etc. The startup offered its services to around 3000 homes and 250 businesses.
Mumbai-based an online platform for women’s luxury wear, Envoged.com was started in March 2015 by IIT Kharagpur graduates Anandita Singh and Manisha Barnwal, along with former Bain consultant Saahil Narang. The startup is owned and operated by Armoire Lifestyle Pvt Ltd. It allows owners of luxury goods like handbags, footwear and accessories to sell them on the platform. In August 2015, the firm raised an undisclosed amount in seed funding from Nijhawan Group’s Ankush Nijhawan, Mediology Software director Manish Dhingra and AMG Investment’s Gaurav Bhatnagar, to strengthen its technology backbone.
Mumbai-based Spiral Content Solutions was launched in January 2015 by Rajan Srinivasan and Pratik Poddar. Its product Scatter works with publishers, bloggers and other content generators to bring relevant content to brands and makes it easy for brands to use that content on their own community assets. Also, the company helps brands connect better with their customers and engage with them.Category Investments News