Bengaluru-based startup, MockBank that helps you prepare for the tests for various government job positions, has acquired Vijayawada based startup Litoro, to strengthen its tech team. The deal amount is still undisclosed. As part of the acquisition, the entire team of Litoro will move to Bengaluru at MockBank’s office and its Founder Suresh Bala will join the company as head of the engineering team.
In September, MockBank raised $400,000 in seed funding led by Blume Ventures to strengthen its technology. Singapore-based angel fund Mercatus Capital and angel investors such as Slideshare Co-founder Amit Ranjan and Bain & Co. India Chairman Srivatsan Rajan also participated in the round. The startup was founded by Konark Singhal, Manesh Jain and Ramesh Narayanan in July 2013, it offers test preparation of popular banking, financial and insurance sector exams.
Litoro is a custom web and mobile product development startup which develops web applications across different verticals such as education, inventory management, real estate and eCommerce. The startup was launched in 2012.Category Business News