Startup community portal, Inc42 has raised Pre-Series A round of funding led by venture capital firms Unicorn India Ventures and Aarin Capital, with participation from Mohandas Pai, Provogue’s Salil Chaturvedi, Patni scion Arihant Patni, FreeCharge founders Kunal Shah and Sandeep Tandon, Lookup’s Deepak Ravindran as well as InMobi co-founders Mohit Saxena and Amit Gupta, among others.
The financial details of the investment have not been disclosed. Though as per multiple source it is in the order of Rs. 3 crore.
Commenting on the development, Vaibhav Agarwal, Co-founder of Inc42, stated, “We will continue to experiment and bring new formats, be it in the form of new channels, events, geographies or products, which will add real value to the startup community in India.”
Inc42 was founded in January 2014 by Agarwal, Pooja Sareen and Utkarsh Agarwal. Previously, the startup had raised an undisclosed amount in seed funding from Unicorn India Ventures, Singapore Angel Network, along with a host of angel investors.
Other deals in this space includes Yourstory which raised around $3M-$4M Series A investment from Vani Kola managing director of Kalaari Capital, Karthee Madasamy, managing director of Qualcomm Ventures India, former Infosys board member T V Mohandas Pai and others; DealstreetAsia (Singapore-based) secured funding from Vijay Shekhar Sharma, founder and CEO of Paytm, and Singapore Angel Network and Newscorp acquired Vccircle in March 2015.
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