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Instablogs the blog network which was showcased at last Proto.in has raised funding from Vishal Gondal who as most people might remember is the Founder and CEO of Indiagames 51% of which was acquired by UTV group last year. According to our sources the funding is within the range of 500-800k $ (approximately 2-3.5 crores) at a valuation of 7 million $ i.e. 30 crores approximately.