Funding Digest: RapidValue, iYogi, LetsVenture & GetActive Secure Funding



Funding Digest May14-1

Helion invests INR 25 Cr in enterprise mobility company, RapidValue

RapidValue, a leading provider of end-to-end mobility solutions to enterprises, has raised Series A funding of Rs. 25 crore from India focused Venture fund Helion Ventures. The funds raised by RapidValue will be utilized to expand in various geographies and strengthen its delivery capabilities.

RapidValue was founded in 2009 by IIT-IIM alumni Rajesh Padinjaremadam and Sirish Kosaraju, along with chief architect Rinish K. Nalini.

Rajesh Padinjaremadam, CEO, RapidValue said in regards to funding, “We are excited to have Helion on board as they bring a unique mix of expertise in building and scaling technology companies both from product and services sides. This funding will help us accelerate our growth and further establish ourselves as one of the leading firms offering end-to-end mobility solutions.”

iYogi Raises Series E funding of USD 5 Million From Axon Partners

Leading technology support services company iYogi, has raised their 5th round of series E funding of USD 5 million from Axon Partners group. [via]

The funds will be utilized to grow further in Latin American markets and accelerate their revenue growth in next 2 years. They had recently launched their services in Spain through a partnership with Telefonica and have also established a service delivery centre there.

iYogi had raised USD 23 million in previous 4 rounds of their funding.

Former Infosys Director TV Mohandas Pai invests in Wearable Tech Startup GetActive

GetActive, a wearable fitness technology startup has announced that they have raised funding from Former Infosys Director TV Mohandas Pai. The quantum of funding has not been disclosed. Former Infosys CTO Sharad Hegde also participated in this round. [Via]

GetActive, based out of Bangalore, have developed wearable products that tracks Individual’s physical activity, calories burned, number of hours slept and weight. The products come in form of a wristband or pendant that helps in measuring the daily activity. GetActive also provides users with web and mobile dashboard that helps them see their activity in real-time.

LetsVenture has raised Rs. 4 Crore seed funding from clutch of Investors

Online startup fund raising platform, LetsVenture, has raised Rs. 4 crore seed investment from a group of angel investors.  The investors include Manav Garg, cofounder of Eka Software, InMobi cofounder Naveen Tewari, angel investors Rajan Anandan and Sharad Sharma, cofounder of software product industry think tank iSpirit. [via]

The funds raised will be utilized to expand and broaden the scope of their deal-making process.

LetsVenture was founded in 2013 by Shanti Mohan along with two IITians Manish Singhal and Sanjay Jha. Currently, the LetsVenture has 750 startups and 375 investors registered on their platform.

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