IDG Venture India, the regional corporate venturing unit of US-based media company International Data Group, has participated in a $9.2m series B round for local banking software development company iCreate Software.
Venture capital firm Sequoia Capital led the round, as reported on news provider VCcircle.com.
The B round will be used by iCreate to expand its product portfolio, enter new markets and deploying flexible engagement models. Gautam Mago from Sequoia Capital India Advisors will now join the company’s board.
IDG previously invested $3.2m in iCreate’s first round of funding in 2010.