India Startup News: Exotel, Games2Win, RainingClouds, HandsPick
Indian startups continue to attract investments from angel investors and venture capitalists. eCommerce continues to be the darling of investors, but the first three days of this week have seen more diverse investments ranging from cloud telephony, gaming to app development for Android.
Exotel – Cloud Telephony
Bangalore-based cloud telephony startup Exotel Techcom Pvt Ltd has received a funding of 2.5 crores (US$ 492,000) from Mumbai Angels and Blume Ventures.
Exotel is a cloud telephony service for SME’s who don’t have the manpower or the infrastructure to run a full-fledged call center. Exotel will help these companies respond to calls and SMS’s in an asynchronous manner. It has 65 clients and Rs. 4 lakh (US$ 400,000 ) revenue.
Exotel plans to use this capital to building infrastructure, expanding the team and stabilizing its product.
Nirvana Venture Advisors, a VC fund from the Patni family, has acquired a 10% stake in Games2Win, a popular gaming company. This is not a fresh stock sale but a secondary sale which just changed hands. Nirvana has bought the stake from employees and partly from Nexus India Pvt Ltd and ICICI Venture.
Games2Win has a recent hit Android game called Parking Frenzy 2.0 which was downloaded 3.6 million times.
Handspick – Fashion focused eCommerce
Handspick is a fashion focused eCommerce portal which currently serves women’s fashion. It has received a funding of $2 million from Seedfund. Handspick has also changed its name to DonebyNone.com. This is the second investment of Seedfund after it invested in an invitation-only fashion portal Fetise.com
One97 Communication has invested Rs. 1 crore (US$ 197,000) for a 26% stake in Pune based RainingClouds. The company has a flagship product called AppSurfer.
AppSurfer is an Android app surfer for other platforms like non-Android phones and for the web. After an Android app is published on AppSurfer, users can check out the app for 10 minutes without downloading it. AppSurfer lets you test Android apps without an Android phone.
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