Despite the alarm bells of the global economic slowdown the funding for startups continues in the Indian space. There are two funding updates for today:

9.9 Mediaworx raises 7.5 Million $ from Helion Ventures and TVS Shriram Growth Fund

9.9 mediaworx is a media company which owns Digit a personal technology magazine, The CTO Forum, a magazine for CIOs and CTOs, Industry 2.0, a B2B publication focused on the manufacturing sector, Logistics 2.0, a B2B quarterly for the logistics industry, and SKOAR!, India’s only gaming magazine. It owns  online properties as well in thinkdigit.com, thectoforum.com, industry20.com, and resolvequery.com. Besides for these it also conducts several events. The funds will be utilised to fund growth and the launch of new products and services.

I expect 9.9 mediaworx to get even more aggressive on the digital space as well as launch newer publications.

Eyantra gets funded for 3.1 Million $ from Venture east and Argonaut

EYantra is an online brand merchandising and corporate gifting solutions company. It hasraised a $3.1-million Series A funding from Ventureast and Argonaut. According to the Managing Director of eYantra Mr.Phani Raj this funding will help eYantra to foray into direct Internet marketing by capitalising on their marquee client base.

The company has developed a technology solution Mertek, which helps create an online brand store in less than two minutes. The company has thus far partnered with TCS, Accenture, Tech Mahindra, Genpact, HCL Technologies among others which collectively employ about 7.2 lakh people. More here.

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