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Accel which was earlier Erasmic Ventures in India has closed a $60M Venture Fund to invest in seed and early stage opportunities in India.

The fund is looking at sectors as divers as  Technology, Technology-enabled Services, Internet, Mobile, Media, Life Sciences, Consumer Products and Services, and other high-growth sectors of the Indian economy
Seed and early stage [...]

The newly formed Accel India Ventures would also be managed by Subrata Mitra, Prashanth Prakash, Mahendran Balachandran and Gagan Kumar who were earlier the partners at Erasmic Venture Partners. Im assuming the current portfolio of erasmic would also be under Accel India Partners as erasmic seems to have done away with its own corporate site.

Sameer Guglani whose dvd rental startup Madhouse got funded for 1.05 crore and who later sold madhouse to Seventymm and joined them as VP-Corporate Strategy has now decided to quit Seventymm alongwith his Madhouse partner Nandini and start off a new venture. The new venture is a US based YCombinator style venture firm called Morpheus [...]

Moving on from the “cash prizes” handed over to the Business Plan competition winners, the business schools have now moved to awarding the winners by actual funding - something that makes much more sense for wannabe entrepreneurs.
 
IIM-Calcutta’s annual business plan competition i2I 2008 will have Seedfund considering investments in two of the winning teams - [...]

A report by Venture Intelligence says Venture Capital firms invested around $543 million in India in 2007. A total of 98 companies were invested in, majority of them being the seed-level and stage 1 funding.
 
Sudhir Sethi, Director of US-IVCA and founder, chairman and managing director of IDG Ventures India said,
 
”With strong interest among Limited [...]

For those who dont know Myntra.com is an online marketplace for on-demand consumer products stuff like T-Shirts, Mugs, Calendars, Keychains, Diaries etc where you can publish you own design on the product and then buy it!
They have various customization tools which enable the user to create and customize his own design. Myntra’s core team comprises [...]