India beats China on PE investment in Asia
For the first time, India stood first on the Asian PE chart in terms of deal value aggregate, garnering $9.9 billion in PE investments from 290 deals in 2007. China was second with $9.5 billion, followed by Taiwan with $5.8 billion. [source]
Indian Angel Network invests in Druvaa
India Angel Network has invested $250,000 in Pune-based start-up Druvaa Software Pvt. Ltd.
Druvaa provides enterprise class products for protection of business critical data against planned and unplanned outages; and unlike other players who backup data periodically, Druvaa’s product allows continuous backups.
Intel Capital leads 123Greetings funding
The proceeds from the investment are intended to support future product launches, sales and marketing, infrastructure and expansion both in India and internationally.
Interestingly, the e-greeting card market is declining rapidly and consumers are switching to tradional greeting cards.
“Over 6.4 billion greeting cards are exchanged in the US per year, compared to 300 million e-cards” – source