Slowdown or no Slowdown.. VC’s have money and they shall invest is the mantra as funding news continues to trickle in and there is no apparent impact as yet of the impending slowdown on the funding in the Indian space.
So two more startups have got funding lately and they are in diverse spaces like mobile vas and cleantech (which is quite a hot sector these days).
TeleDNA raises 10 million $ from Peepul Capital
TeleDNA Communications a mobile VAS technology provider has raised $10 million (Rs 50 crore) in funding from the Mauritius-based institutional investment company, Peepul Capital LLC. Tele DNA specialises in providing telecom software infrastructure required for mobile network operators and aims to expand its sales and support functions, apart from venturing into offering managed services.
Praveen Nallapothula, MD and CEO, TeleDNA said, “We will be utilising the funds to create sustained, mass market revenue generating VAS applications bundled with our VAS infrastructure products to mobile telecom company and large enterprise. We will expand our existing sales and support functions for catering to business demand and growing customer base.”
D.Light Design raises 5.5 Million $ from Nexus India Capital, DFJ and Garage Technology Ventures
D.light Design a cleantech startup based out of delhi has raised Series A financing of 5.5 million dollars led by Nexus India Capital, along with Draper Fisher Jurvetson, Garage Technology Ventures, Mahindra & Mahindra, and social funds Acumen Fund and Gray Matters Capital. The same team of investors provided seed funding for D.light as well when it was founded over a year ago. D.light aims to eradicate the kerosene lantern and provide much brighter light for millions of households in the developing world through innovative solar and LED technologies. Ofcourse India is one of their target market.
