Intel and Nokia’s corporate venturing units helped Indian coupon offers website Dealsandyou.com raise $17m on November 4.
Intel Capital, the corporate venturing unit of the US-based chipmaker, and Nokia Growth Partners, the corporate venturing unit of the Finland-based mobile phone company were joined by venture firms Mayfield Fund and Norwest Venture Partners (NVP), with the two venture firms leading the second round.
Dealsandyou.com is one of the largest daily deals sites in India. After being launched in August 2010 it has expanded to offer local eating, activities and shopping deals in 12 Indian cities and national deals across 250 cities nationwide.
The website is backed by Switzerland-based Group Buying Global which contributed $1.5m of funding in the first round, and promoted by Delhi-based Smile Group, founded by entrepreneur Harish Bahl. Group Buying owns and manages group buying portals across four continents.
Dealsandyou.com acquired online portal wanamo.com in June 2010 to enter the Indian market.