Fundingwire is your quick dose of notable investments made in the technology space. The firms covered in this segment include PayTunes, IAN, CIO Angel Network, KhanaGadi, 50K Ventures, TVS Automobile, Jazzmyride.com, Autosense, and Redsun Telematics.
TVS Automobile Solutions Invests $11M in 3 Startups
TVS Automobile solution has invested about ₹75 crore ($11 million) to pick up majority stake in three startups — auto parts eCommerce player Jazzmyride.com; Autosense, a big data and analytics-based marketing services firm; and RedSunTVS ASL, part of the TVS group, which focuses on the automobile aftermarket business and aims at providing technology based global delivery model to help manufacturers connect with customers, garages and retailers directly. Read More
PayTunes Raises $500K Funding From IAN and CIO Angels
Mobile advertising platform PayTunes, operated by New Delhi-based Real Time Networks Pvt Ltd, has secured almost $500,000 in a pre-Series A funding round that was jointly led by existing investor CIO Angel Network and the Indian Angel Network (IAN). PayTunes is an Android platform that helps brands reach their mobile consumers through audio ads. It replaces the ringtones of users’ mobiles with ad jingles. In return, it allots reward points to users on every incoming call. Users can later redeem their points through free recharges and bill payments. Read More
KhanaGadi Raises Undisclosed Amount Fom 50K Ventures
KhanaGadi, a mobile application-based food delivery aggregator for railway passengers, has raised an undisclosed amount from Hyderabad-based 50K Ventures. KhanaGadi plans to utilise the funds to expand its network, adopt a more aggressive marketing strategy and build its team. Read More
Image Credit: The Hindu Business Line