Seedfund Invests Under $3 Million In Afaqs!

It’s not just the start-ups that need funding but established businesses sometimes sustain their operations with fresh rounds of cash. Seedfund, a seed stage venture capital fund has invested under $3 million in Banyan Netfaqs Pvt Ltd. in its second round of funding in the publishing venture. The first round of funding happened in 2007 and Infinity Ventures was one of the backers of Banyan Netfaqs in 2000.

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Founded in 1998 in Noida, Banyan Netfaqs runs two online ventures, ‘afaqs!’ and ‘The Mobile Indian’. Afaqs aims at creating a network of advertising and media professionals. The special interest area has immense opportunities barring non-news and finance space. It deviates from the portfolio generation of traditional news publishing companies and explores the special interest areas.

Seedfund raised $54 million for its second round of funding in 2011. It targets startups in India in the consumer media, Internet, mobile and retail sectors and invests 0.5 to $4million in each. Recent investees of Seedfund are Pilani Soft Labs Pvt Ltd (it runs the online bus ticketing site RedBus.in) and Vaatsalya Healthcare Solutions Pvt Ltd and the Mumbai-based startup Nevales Networks.

Funding for afaqs! would help it expand in the advertising coverage space and support their initiatives like Afaqs! TV. The idea behind the launch of this channel is to get the time and attention of the media, advertising, and marketing community.

Story Source | Techcircle

Image Courtesy |  printmediacentr

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