Fundingwire is your quick dose of notable investments made in the technology space. The firms covered in this segment include EdTechReview, EVC Ventures, Bombay shirt, Patni group, Truecaller,Didi Chuxing and China Life Insurance
EdTechReview Raises Pre-Series A from EVC Ventures
EdTechReview has raised an undisclosed amount in their Pre-Series A round of funding from EVC Ventures. The round was led by Anjli Jain, Managing Partner, EVC. The company is planing to use this fund to expand their activities in different cities in India to make this education community stronger on ground.
EdTechReview.in has grown into an online education media platform for educational stakeholders to find useful news, information and resources on educational technology. It claims to have a niche readership from over 200 countries and territories across the globe majorly from North America, Asia and Europe with over 200,000 visitors a month.
Bombay Shirt Company Raises $987K From Patni Group
The custom-made shirt maker Bombay Shirt Company has raised Rs $987,000 in a bridge round from Patni Group, an existing investor of the company. The company will use the money for hiring people and to expand to other cities like Bangalore, Chennai, Delhi and Kolkata.
The online shirt brand was launched in 2012, by Akshay Narvekar, it was conceived & is based in the heart of Bombay (Mumbai) itself. Read More
China Life Insurance Invests $600M into Didi Chuxing
Chinese car-hailing app Didi Chuxing has received an investment of about $600 million from China Life Insurance Co Ltd. Apple invested $1 billion in May in Didi, a move that Apple Chief Executive Tim Cook said would help his company better understand the critical Chinese market.
Didi and Uber have spent heavily to subsidise fares to gain market share in China, raising speculation in local media that they might ultimately join forces. Read More
Arun Sarin Invests in Truecaller
Arun Sarin, the former Vodafone CEO, has made a capital investment in the mobile communications app Truecaller, while also joining the company’s advisory board. Sarin would be bringing with him his global experience and network, using which he would focus on supporting and advising the company on the overall strategy. Read More