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Online real estate portal, which is reportedly valued at around $347 Mn (INR 2260 Cr.), Housing.com, is set to raise $35 Mn in a new round of funding to be led by Japan’s Softbank. The startup plans to use the funds in revenue generating areas like advertisement-based business and increase its base in other cities.
This week 12 startups raised $55 Mn in funding altogether. (The funding amount is based on the startups that disclosed their funding amounts).
Let’s Have A Look At The Startups That Raised Funds This Week
The US-based Digital currency startup, Abra, raised funding from Chairman Emeritus of Tata Sons, Ratan Tata, along with American Express. This investment is part of the $14 Mn Series A round, announced by the company in September.
Also, Reboot Systems India, a refurbisher of desktop computers, laptops and smartphones, is in talks to raise $15 Mn to $25 Mn in early-stage funding. The funds will be used to enhance technology to refurbish smartphones including data wiping and data analysis, recruiting additional employees and adding Reboot stores over the next two years.
Acquisitions That Took Place This Week
- Digital advertising network, Fork Media acquired Spid InfoMedia, Wi-Fi advertising network for an undisclosed amount. Fork Media will leverage Spid’s technology for advertisers and publishers by offering them one of the largest audience platforms, targeting on-the-go consumers.
- Indian real estate aggregator startup, Square Yards, acquired Oryden Tech Labs, a creative and design studio, for an undisclosed amount. As a part of the deal, the entire team of Oryden Tech Labs will join Square Yards.
- An online payment solutions company, Citrus Pay acquired Zwitch, a payment platform, for an undisclosed amount. As part of the deal, Zwitch’s 10 member team will join Citrus Pay and will relocate to Mumbai.
- Dentsu Aegis Network acquired Fountainhead Entertainment, India’s prominent event & activation agency, for an undisclosed amount. With this, Fountainhead’s strong expertise and presence will add scale and leadership to Dentsu Aegis Network’s growing presence within this vibrant market.
Other Developments Of The Week
- Joining the race behind other bollywood stars, now Hrithik Roshan expressed his will to invest in startups. Hrithik would invest in startups from any domain that would make a difference to the world for better place.
- A global software company Progress invited applications for second batch of Progress Incubator’s program in India. The program is open to all startups and university students across India with a business app idea that is in a prototype stage till October 25, 2015.
- IBM Global Entrepreneurship Program (GEP) announced the winners for its SmartCamp Pune edition, which took place last week. The startups were judged by Srikanth Sundarajan, Dulles Krishnan, Aruna Schwartz and Anoop Mathur.
Facebook announced 12 winners for its Internet.org Innovation Challenge in India across four categories viz farmers, women, students and migrants. The challenge was started to recognise people those supported Facebook’s vision of a connected world.
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