Funding News: CitrusPay Raises $5.5M, Birds Eye Raises Series A, Ufaber Edutech Secures Seed Funding
Mobile Payments Solutions Company Citrus Pay has raised USD 5.5 million of second round of funding from econtext Asia Limited and Beenos Asia Pte. Ltd. They have come on board as strategic investors. Their existing investors Sequoia Capital also participated in this round of funding.
The funds raised would be used for innovations in mobile payment solutions and increasing footprint in the global markets.
The Citrus mobile payment solutions was founded in 2011, and launched their payment platform in January 2012 Citrus has grown from 278 transaction in January 2012, to handling over 1.5 million transactions as of today. Citrus payments has a total customer base of 1000+ digital businesses on mobile and desktops.
Citrus payments customer base include Indigo Airlines, Airtel, Sun Direct, Reliance Entertainment, Abhi Bus, Easy Cabs, Delhi Metro, DDA and Healthkart.
Real Time Traffic Tracking Solution Company Birds Eye Raises Series A Funding
Mumbai based real time traffic monitoring and tracking solutions startup, Birds Eye Systems Pvt. Ltd. has raised series A funding from Matrix Partners India.
The quantum of funding has not been disclosed.
Birds Eye had previously raised INR 2 crore seed funding from Indian Angel Network in April 2012.
Birds Eye Systems flagship product Traffline was developed to ease the frustration of commuters. Traffline currently shows live traffic conditions in Mumbai, Delhi and Bangalore. The platform provides live traffic information and updates to help commuters avoid getting stuck in traffic and provides information on best alternate routes available to commuters.
The funds raised will be utilized to expand Traffline across multiple transport modes and 10 cities in India.
Ufaber Edutech Raises INR 37 Lakh seed funding from Club ah!
Mumbai based Ufaber Educatech, an online marketplace for online professional courses and skill development has raised Rs. 37 Lakh seed funding from Club ah! reports Deal Curry.
The funds will be utilized to expand their course offerings and to strengthen their technology platform.
Ufaber is essentially a online ecosystem where users can have 2 main roles – either of a student or of a trainer. A trainer or expert can list their offering as self paced courses, while the student can enroll for these courses put up by them.