US-based corporations Google, Microsoft, Verisign have backed a $10m initiative to create 10,000 start-ups in India. India’s National Association of Software & Services (Nasscom) is at the heart of the idea, which will incubate, fund and support 10,000 technology start-ups in India over the next 10 years. The programme will focus on fostering entrepreneurship, building… Continue reading Corporations evangelise Indian start-ups
Author: Katherine Steiner-Dicks
WSGR mines deal with Indix
Wilson Sonsini Goodrich & Rosati backs Indix.
Norwest heats up Pepperfry
Venture capital firm Norwest Venture Partners (NVP) India, which invests on behalf of bank Wells Fargo, has re-invested $8m in a second round of funding for Pepperfry.com, an online lifestyle store run by India-based Trendsutra Platform Services. The company raised $5m from Norwest Venture Partners in December 2011. The money raised will be used to… Continue reading Norwest heats up Pepperfry
Lilly, BASF-backed Receptos eyes IPO
The corporate venturing unit of life sciences company Eli Lilly and chemicals group BASF, could realise its investment in Receptos, a US-based therapeutics company planning its flotation. Receptos has filed for an $86.3m initial public offering on the Nasdaq stock exchange. Investment banks Credit Suisse, Leerink Swann and BMO Capital Markets are lead underwriters. To… Continue reading Lilly, BASF-backed Receptos eyes IPO
IDG Ventures backs India’s Myntra in US acquisition
US-based publisher International Data Group’s (IDG) global corporate venturing unit has invested in Myntra, India’s largest online fashion and lifestyle store, to help it acquire virtual fitting room creator Fitiquette. Alongside IDG Ventures in the round were hedge fund Tiger Global and venture capital firms Kalaari Capital and Accel Partners. Financial details for the investment… Continue reading IDG Ventures backs India’s Myntra in US acquisition
Network 18 pumps up volume at TV18
Network18, India’s fastest growing media and television group, sees future in India’s teleshopping market with $30m investment into TV18 Home Shopping Network.
Gree gives Luxola make-over
The series A round is reportedly valued at $2m, according to news provider TechCrunch.
IMJ and Fenox form $4m fund
The fund will specialise in mobile, internet and software technologies in south-east Asia, Japan and the US.
Incubate reads up on ResuPress
Incubate Fund backs local start-up ResuPress, as it continues raising its second fund.
Two join Docomo’s incubator
Tech news media company Lid and customer relationship solution developer Repica are two of the first companies to join Docomo’s incubator programme.
Perfect World commits again
Perfect World, an online game developer and operator based in China, is making another commitment to a venture capital fund to help it back later-stage deals. The additional RMB396m ($63.75m) commitment follows the limited partner’s 2011 investment of RMB643.5m ($100m) in the same unnamed general sector fund. However, according to Perfect World, the targeted VC… Continue reading Perfect World commits again
Zamplus processes Intel funds
Zamplus Technology, a China-based professional internet data service provider, has raised an undisclosed amount of investment capital from Chinese lead investor Northern Light Venture Capital, which was joined by Intel Capital, Intel’s corporate venturing unit. In March of this year it was reported by news provider SinoCast Daily Business Beat via Comtex newswire that Zamplus raised a… Continue reading Zamplus processes Intel funds
Amex-backed Radius raises $13m
American Express-backed Radius Intelligence, a US provider of a data technology company platform for B2B marketers to find customers, raised $13m in a series B funding. American Express is an existing investor in the company. The company has raised $28.2m to date.