Well its raining investment news today with two companies raising funding but at different stages. Its always better to hear of seed/early stage investments happening in this space as thats where the most money is required albeit in smaller chunks compared to middle and late stage funding. So here are the top funding news stories for today..
Ojas Ventures Invests in Mobile Tech Startup Mango Technologies
Ojas Ventures which is a seed and early stage venture firm has made its 3rd investment (post Tyfone and Ziva both of which were in the mobile space) in a mobile tech startup by the name of Mango Technologies. VCcircle reports that Mango has developed a thinnest modular application & UI framework, which considerably reduces engineering effort and time spent on development and integration.
The details of the deal have not been disclosed yet but Rajesh Srivastha sounds upbeat on the mobile space in India. We shall soon have a video interview with Mr. Srivastha with regards to Ojas and its investment strategy up on WATBlog soon.
Well on to our second funding story..
Seventymm raises 50 Crores from NEA-Indo Us Ventures in C Series Funding
Seventymm has raised 50 crores in C series which was led by NEA-Indo Us Ventures and also participated by its earlier investors DFJ and Matrix Partners. Seventymm is pitted against the likes of BigFlix of Reliance which ofcourse has no dearth of cash and is ramping up aggressively in this space. Seventymm seems to have raised this round to invest in brand awareness as afaqs reports that Seventymm has already deployed about 8 crores for the year in the branding exercise which would include TV, radio, print and mobile. The mobile marketing would be handled by MGinger (No surprises here. MGinger is funded by the same VC.. Think DFJ.. helps in getting customers!).
Well thats its for the funding news for today.. Do send us tip off’s on info (at) watblog (dot) com on any funding news that you hear of.