News Roundup: Recruitment Startup DoSelect Raises $490K in Seed Round, BookMyTime Acqui-hires Servicemykar


Recruitment Startup DoSelect Raises $490K in Seed Round

Bangalore-based tech recruitment platform, DoSelect, has raised $490,000 in a seed round of investment from 3one4 Capital, Mumbai Angels led by Mohit Saxena (co-Founder, InMobi), and Aarin Capital.

The company plans to use the investment to scale its current traction areas through targeted marketing and sales funnels. It is also looking forward to the product enhancements.

The firm was founded by Sanket Saurav, Rohit Tirkey, and Iliyas Shirol in 2014 as a platform for companies to hire technology talent.

Automobile Startup BookMyTime Acqui-hires Servicemykar

Bangalore-based car purchase and service platform BookMyTime has acqui-hired car management startup Servicemykar to strengthen its market presence. As part of the deal the 10+ member team, including Founder & CEO Raghavendra Chandrappa will join BookMyTime. Chandrappa will be the new CEO of BookMyTime.

The BookMyTime app allows users to compare car prices and provides service requirements such as providing details of puncture shops and round the clock towing services. “With this acquisition, we are ready to expand our operation in terms of service and geography,” said Raghuram Kote, founder of BookMyTime.

Fintech Firm Intellect Design Arena posts net loss of Rs 13.8 Cr

Intellect Design Arena has reported a net loss of Rs 13.83 crore for the quarter ended Sep 30, 2016 as compared to Rs 5.52 crore in the previous quarter. The company posted a net revenue of Rs. 230.9 crore, which is up from Rs 205.8 crore in the previous quarter.

Intellect Design Arena, the organization behind the world’s first comprehensive Global Transaction Banking (iGTB) product, said that the board has approved the raising of funds through issue of existing shares of existing shares, which is subject to regulatory approval.

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