Google-backed SeedFund injects $1 million into Lifeblob, but this start-up may be DOA
updated
Today, SeedFund, an Indian VC firm backed with Google cash, announced a $1 million investment in Lifeblob, a Bangalore-based lifecasting company whose awkward name just about says it all.
Lifeblob is a kind of digital diary that maps the media you share and thoughts you write onto a timeline. You can adjust the scale of this timeline to reflect the history of your online life in increments ranging from every day to a somewhat ambitious 100… Continue Reading
Google tiptoes into venture capital
Google has committed money to two Indian venture capital firms, saying fledgling companies in India with good ideas have too few avenues for financial support.
Google invested undisclosed amounts into small venture firms Seedfund and Erasmic. The amounts were likely in the single digit millions.
This continues Google’s experiment with different forms of corporate development. The move is significant because the rap on corporate investors is that they’re unreliable — enthusiastically supporting companies when times are good,… Continue Reading
Venture firms making a difference in India
Venture capital firms are pumping more money into Indian companies, and a new study confirms those companies are growing faster than other companies.
Meanwhile, Silicon Valley’s Mayfield Fund becomes the latest firm to start investing there, announcing today it has joined a $20 million round of investment in Tejas Networks, an Indian optical networking company (see our earlier mention of Tejas), and is backing the Seedfund, an Indian firm that makes investments very early stage companies.
Venture… Continue Reading
MakeMyTrip, Indian travel site, raises $13M, joins all the other Indian travel sites
MakeMyTrip.com, the Indian travel site, has raised $13 million in a second round of funding amid robust growth, according to The Economic Times.
Helion Ventures and Sierra Ventures, and existing backer Softbank Asia Infrastructure Fund (SAIF) invested $6 million, $4 million and $3 million, respectively, the report said. MakeMyTrip may have sold about 20% of its stake in this round, it said, citing people familiar with the transaction.
SAIF already invested $10M last year, which makes… Continue Reading