Canaan Partners

Canaan Partners, the venture capital firm that focuses on the US, India and Israel, has closed its ninth fund at $600 million. The new fund has been backed by  both new and existing LPs and it takes the firm’s total assets under management to $3.5 billion.

About two-thirds of the fund corpus will be put toward digital media, consumer internet, mobile and communications companies, with the rest earmarked for biopharma, medical device and healthcare infrastructure investments.

“We’ve had the privilege of working with outstanding entrepreneurs – often over a long haul because it takes time to build a … Read more

Canaan Partners closes $600Million fund

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Letsbuy, a New Delhi based e-commerce company founded by Hitesh Dhingra and Amanpreet Bajaj  in mid 2009 has raised an investment of $6M in series A round from Helion Venture Partners, Accel Partners and Tiger Global.

LetsBuy.com is an online retailer of consumer electronics, telecommunication products, laptops and computers peripherals, they deliver goods through out India. Earlier Hitesh Dhingra was the co-founder and Business Head of online advertising firm Quasar Media Pvt Ltd and Tyroo Media.

“LetsBuy.com in on the fast-growth path and the VC funding from the leaders in the space will only spur us on. The … Read more

LetsBuy raises $6M from Helion, Accel and Tiger Global


Flipkart, India’s largest online bookstore today announced that it has acquired weRead, the largest social network based book recommendation and review platform. Though the acquisition amount wasn’t disclosed.

The weRead acquisition allows Flipkart to leverage advanced recommendation technologies and social graph information to enhance customer experience. With more than 3 million readers and 60 million books, weRead captures user-generated information such as who, within your social network, has marked a book as a favourite, detailed reviews and user ratings of books.

The weRead application is available across all popular social network sites such as Facebook, Orkut, Yahoo, MySpace … Read more

Flipkart acquires Weread from Lulu



Booksvilla is a startup which is joining the crowded online bookstore space. Booksvilla is founded by Chirag Rathod and Rohan Pimparkar, both students of Entrepreneurship Development Centre at Mudra Institute Communications. Both are voracious readers and very passionate about books which propelled them to develop an ecommerce site on books which will improve browsing and shopping experience.

Booksvilla has put up books 90+ categories ranging from acting to tarot, search feature is implemented well. Though prices are not very competitive when compared to flipkart.

Besides selling new books Booksvilla offers a unique, first-of-its-kind online book exchange program through its portal. … Read more

BooksVilla – an exchange platform for used books



Exclusively.in, a periodic sale portal offering high end products – designer wear, home decor, fashion accessories has raised $2.8 million in funding from Accel Partners and Helion Venture Partners.

Exclusively.in caters to NRI audience in US which doesn’t mind shelling premium for the right product not available in US. Their working model is quite simple, products are source from India mainly around NCR region and then products are shipped to users based out of US. Soon they plan to start shipments to countries like UK and Canada.

Exclusively.in deals in desginer products and accessories like jewelry, handbags, shawls, desginer … Read more

Exclusively.in raises $2.8M from Accel and Helion