SAIF Partners plans to infuse more money in the Indian early stage tech startups. This week the venture capital firm, SAIF Partners, raised $350 Mn for its India-dedicated fund from 27 investors. The VC already backs Paytm, Bookmyshow, MakeMyTrip and JustDial. If the sources are to be believed the firm is likely to increase investments in tech startups.
In total, 6 startups raised over $25 Mn in funding. (this is based on the startups that disclosed their funding amount.
A Quick Recap Of The Funding Around The Week
CustomFurnish.com: Custom-made furniture etailer, CustomFurnish.com raised INR 16 Cr in funding from Serial entrepreneur and MedPlus Group founder Madhukar Gangadi. The interior startup announced the launch of its services in Hyderabad.
Niffler: Mumbai-based startup has raised $ 1 Mn (approx INR 6.18 Cr) in seed investment from SAIF Partners, a leading venture capital firm with over $4Bn under management. The freshly infused capital will be used towards expansion and diversification
Vserv: A mobile advertising technology provider Vserv raised $15 Mn from hedge fund Maverick Capital and its existing investor IDG Ventures India. With this investment US-based hedge fund Maverick Capital also marks its entry in the country. The hedge fund manages more than $8 Bn business worldwide.