The latest in the deal space in India has seen Venture Catalysts invest an undisclosed amount in IPG.com, while Ratan Tata, Rajan Anandan and others have backed cannabis research startup BOHECO, as EasyEcom has raised its first round of external funding.
Venture Catalysts backs IPG.com
Incubation platform Venture Catalysts has invested an undisclosed amount in multi-category gifting e-commerce company IPG.com.
According to a statement, Sarvesh Goel, Abhijeet Birewar, Amit Dhanki, and other angels took part in the round.
The company will use the proceeds raised in its Series A round for increasing its supply chain infrastructure and for branding.
IGP.com (formerly known as IndianGiftsPortal.com) provides curated collection of gifts, flowers, cakes & personalized products for all personal occasions & festivals. The company has offices in Mumbai, Lucknow, Noida, Jaipur and California.
Cannabis research startup BOHECO gets funding
Medical research startup Bombay Hemp Company Pvt. Ltd. (BOHECO) has received Rs 6.25 crore (almost $1 million) in seed funding, led by investors such as chairman emeritus of Tata Sons Ratan Tata and Google India’s managing director Rajan Anandan.
The startup will primarily use the proceeds to hire scientists from India as well as abroad for further research, according to an Economic Times report.
Founded in 2013 by Sanvar Oberoi, Delzaad Deolaliwala, Avnish Pandya, Chirag Tekchandaney, Jahan Jamas, and Sumit Shah, BOHECO has partnered with the Council of Scientific and Industrial Research (CSIR). Through this tie-up, the company plans to grow cannabis and study its medicinal properties for use in the treatment of epilepsy, breast cancer and palliative care.
EasyEcom raises $150k angel funding from Bold Ventures, others
Analytics focused omni-channel solutions provider EasyEcom has raised $150k in angel round from a number of investors, it announced.
The new round was led by Ambarish Gupta, CEO of Knowlarity Communications; Aneesh Reddy, CEO of Capillary Technologies; Bold Ventures, an early stage fund; and Vona Investments, a US-based early-stage angel fund.
EasyEcom was founded in February 2014 by Punit Gupta, Jitesh Advani and Swati Jindal. The company’s omni-channel solution helps companies sell on multiple platforms through analytics.
The fundraise was syndicated by Bangalore-based investment banking firm DIA Capital Advisors from multiple investors.
“This transaction validates the fact that there is a strong interest in omni-channel technology startups. It will facilitate attractive returns on the capital employed owing to the huge surge in demand for omni-channel technologies, proven markets, and differentiated offering,” said Nishant Navin, founder and managing partner of DIA Capital Advisors.