22 Dec, 2009
Gradatim Investment microfinance micropayment NEA-IndoUS
Gradatim raises $3M from NEA-IndoUS ventures as part of series A round funding. GRA-DA-TIM pronounced as grey-dey-tim is a Latin word meaning “step-by-step”, “gradually” or “by degrees”. Gradatim’s objective is to reduce the cost of computing, increase reliability and flexibility by transforming the way people use technology and third party outsourcing partnerships.
Gradatim, a pioneer in the Business Process Utility (BPU) space, delivers evolutionary, on demand business process utilities to customers across industries. Robust industry strength technology platforms which form the underpinning of Gradatim’s delivery makes Gradatim capable of managing parts of customer’s business in an efficient and cost effective manner.
Gradatim has operations in India, Australia and Singapore. Gradatim’s clients include MFIs and NBFC’s, Insurance providers across Asia and Australia.
-Hitesh, vcbytes.com
17 Dec, 2009
Canaan Partners Investment motorexchange Startups
MotorExchange as the name succinctly tells you what it is about, has raised undisclosed sum of capital from Canaan Parnters. Motorexchange is a platform for buyers and sellers to carry transactions of the used vehicles and target dealers.
MotorExchange has been founded by former Mahindra First Choice CEO Vinay Sanghi and ex-eBay India head Rajan Mehra. Sanghi is currently the CEO, and Mehra, currently a venture partner at Clearstone Venture Advisors, is the founder-director. Alok Mittal, general partner at Canaan, is joining the board of MotorExchange.
Motorexchange is targeting to capture significant market share of $15billion used car sale. Motorexchange has tied up with leading banks like ICICI and HDFC for easy finance.
-Hitesh, vcbytes.com
9 Dec, 2009
Investment mchek mobile payment
mchek, a mobile payment solution company which securely links your credit or debit card to your mobile number and helps make payments from your mobile has raised $5million USD from Nexus Venture Partners, NVP seems to be in funding spree!! last month they announced funding of vdopia and NVP seems to have inclination towards mobile applications and services.
mChek’s services support mobile banking, mobile payments and financial inclusion. The company is operational in India and Sri Lanka.
Airtel is one of their first and very prominent client, others include VISA, ICICI Bank, HDFC Bank.
DFJ has invested early but not participated in this round of investment and serious doubt sinks in about the the profitability and operating margin of the company.
-Hitesh, vcbytes.com
