The firm will be using the funds for its certification and deployment of its platform.
Only this March, payments solutions provider Innoviti had raised Rs 10 cr in funding. There has been a lot of buzz in the digital payments segment as investors, piqued by the proactive regulatory stance of the RBI, realize the potential for both innovation and growth in this segment. FortunePay launched at UnPluggd. Here’s the demo.
Beauty e-commerce portal Nykaa raises funds to expand online business
Nykaa.com, the beauty e-commerce portal owned by former CEO and MD of Kotak Bank Falguni Nayar has raised funds from undisclosed investors.
The venture which was launched two years back will reportedly use the funds to expand its online business and move to a hybrid model by launching offline stores.
The terms of the transactions or the names of the investors were not disclosed. After apparel and fashion accessories, beauty and health is widely considered as the segment with high potential growth. Online beauty care products retailer Purplle had also raised funds last year.
Ad Tech Startup AdSparx Secures Rs 3.5 crore Funding
Ad-sparx provides the mid-roll technology to deliver ads through online video content. It operates in the digital ads market, attempting with several other firms to monetize online digital video content.
The digital ads market in India grew from Rs 2,260 crore in March 2013 to Rs 2,938 crore by March of 2014. Of the total market , mobile advertising constitutes about Rs 250 crore.
Bombay Shirt Company – Online custom shirt retailer; raises seed funding
Amit and Arihant Patni, sons of Patni Computer co-founder Gajendra Patni, have picked up a significant stake in Bombay Shirt Company (BSC), an online custom shirt retailer, for an undisclosed amount. (Via)
BSC offers a made to measure platform to design custom shirts and currently run a hybrid model offering both online and offline stores.
The funds will reportedly be used to scale the custom shirt platform.
Online Apparel and fashion has recently been receiving a lot of attention because of its large customer base as witnessed by companies like Myntra.com, Jabong.com and because of the high margins nature of the business.