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Dave McClure’s 500Startups invests in Instamojo

Dave McClure’s 500 startups, which recently hired Pankaj Jain to improve its focus on startups based in India has invested in Instamojo, a Mumbai based startup that makes selling on the web easy.
Instamojo, which raised Angel money from Google’s Rajan Anandan earlier is similar to Gumroad, a website built by Sahil Lavingia, the 19 year old designer behind Pinterest (has raised $1.1mn from KPCB, Accel, Naval Ravikant etc).

The startup believes that selling or giving your things online should be as simple as posting it, sharing the link and then giving it away. Besides Anandan, angel investor Sunil Kalra also invested in Instamojo in July this year (incidentally, they met for the first time @UnPluggd).

Instamojo is started  by Sampad Swain, Harshad Sharma and Akash Gehani ; and launched its public beta @Unpluggd earlier this year.
Check Instamojo demo @Unpluggd