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Funding Updates: HomeShop18 raises 21M$, IDG & Seedfund Announce Second India Centric Funds
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Funding Funding and more funding.. Well soo much of it that its difficult to get by for a day till funding isn’t mentioned in a post. So here are all the funding updates :
Homeshop18 raises 21 M $ from Saif and Capital18
HomeShop18 which is Network18’s online and on-air retail marketing company and which launched the country’s first 24 hour Home Shopping TV channel has raised 21 million dollar (about 16 million dollar was raised from SAIF Partners and 5 million dollar was raised from Capital 18).
Network18 seems to be taking its TV and Web integrated platform very seriously and this is another initiative in that direction. Along with Moneycontrol, Tech2 and Biztechtv which also has TV components this is another venture of Network18 which will greatly benefit from the web + tv combination.
IDG Ventures & Seedfund Launch Second Funds - Will Be 300M$ & 30M$ respectively.
IDG Ventures which was recently in the news for pumping in millions of dollars in another ad network has announced a new fund dedicated to India. This fund is expected to close by year 2009. Now the question is where will they invest 300M$? Thats just too much of money! I really feel some startups will get funded for more money than they require or deserve. Especially the internet centric ones which in mind dont need millions of dollars funding like their US counteparts. A step towards another bubble?? WAT say?
Well the other fund which is launching its second fund is a much needed one. Seedfund is announcing a 30M$ fund and it you ask me instead of one 300M$ fund we need 10 of 30M$ fund so that real innovation can be created at the grass root i.e. the startup level.
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