Mobile-based marketing and customer rewards management platform
Crownit has raised a Series B round of funding, while Mumbai-based
EduPristine has secured $10 million from private equity fund Kaizen Management Advisors and US-based education company DeVry Inc. Also, IDG Ventures India is planning to invest in 15-25 new consumer-facing Internet startups and Snack-food manufacturer Haldiram is looking to raise an amount of $200 million.
Consumer Rewards Platform Crownit Gets Series B Funding from Silicon Valley and Mumbai based InvestorsMobile-based marketing and customer rewards management platform Crownit has raised a Series B round of funding from a Silicon Valley-based investor and a Mumbai-based investor. Gurgaon-based GoldVIP Technology Solutions Pvt. Ltd. owned Crownit had raised $5.5 million in a Series A funding last year. The company plans to expand its geographic reach. It is planning to launch its operations to four more cities—Pune, Hyderabad, Kolkata and Chennai. A part of the capital will also go towards marketing and brand building.
Existing investors, Accel Partners and Helion Venture Partners have also participated in the funding round.
Founded by Delhi College of Engineering alumnus Sameer Grover in March 2014, Crownit offers the cash back deals on restaurants, phone recharges & mobile bill payment, movie vouchers, hotel bookings, diagnostics etc.
EduPristine Raises $10M from Kaizen and US Based Education Company DeVry
Mumbai-based EduPristine which is backed by Neev Knowledge Management Pvt. Ltd., has raised $10 million from private equity fund Kaizen Management Advisors and US-based education company DeVry Inc. Accel Partners, which invested $1.5 million in the company, exited with this funding round. The company had also raised an undisclosed amount in angel funding from Mark Mobius and Rajesh Sehgal. The company will use the newly raised capital to increase its course offerings, grow to 15 cities in India and improve technology.
Founded in 2008 by Atul Kumar, Paramdeep Singh, Pawan Prabhat and Sarita Chand, EduPristine offers certification in 15 types of courses across accounting, analytics, digital marketing and finance, using a network of centres and online classes. Going forward, the the company plans to add more courses in the category of big data analytics and healthcare.
VC Firm IDG Ventures India Plans to Invest in Consumer Tech Startups
Bangalore-based Venture capital firm IDG Ventures India Ltd has launched a programme named Digital Consumer Innovators Program, to find and invest in 15-25 new consumer-facing Internet startups. The VC firm will invest $500,000 to $1 million in early-stage deals as well as $3-$5 million in Series A deals and is looking at mobile-first shopping apps, digital media startups, software providers for Internet companies and others.
Apart from providing funding, IDG will help the selected startups to hire and flesh out their strategies. The selected startups will have access to IDG’s advisory panel that includes Mukesh Bansal, founder and ex-chief executive of online fashion retailer Myntra; former Tata Group chairman Ratan Tata; and Infosys Ltd co-founder Kris Gopalakrishnan.
Snacks Manufacturer Haldiram Plans to Raise $200M
Snack-food manufacturer Haldiram is in initial talks with top-tier private equity funds including Capital International, Everstone Capital, General Atlantic Partners, WestBridge Capital, and TA Associates, to raise a funding amount of $200 million. If the deal goes through, is likely to value the company at around $1 billion. The capital infusion could be a combination of fresh equity allotment and a secondary share purchase.
