India Dealbook: TV18 Broadcast to invest in Infibeam; Shirsa Labs, Corefactors raise funds

Vishal Mehta, co-founder and chief executive, Infibeam. Photocredit: Livemint

While TV Broadcast Ltd is investing up to $6.2 million in Infibeam; education technology firm Shirsa Labs and marketing management platform Corefactors have raised funds.

TV18 Broadcast to invest up to $6.3m in Infibeam

Media major TV18 Broadcast Ltd is investing up to Rs 40 crore ($6.23 million) in public-listed e-commerce firm Infibeam Incorporation Ltd.

According to a disclosure to the stock exchanges, Infibeam will issue fully convertible warrants equivalent to a 0.4 per cent stake in the company upon conversion.

“Through this tie-up, Infibeam plans to integrate multiple platforms of Network18 Group assets to build large customer base with its differentiated offerings,” Infibeam said in a statement.

“Various mutual cooperation strategies will be explored during the course of this partnership specifically in digital space,” it added.

Founded in 2010 by former Amazon executive Vishal Mehta, Infibeam which operates a horizontal e-commerce platform, listed on Indian stock exchanges in March 2016.

Ed-tech startup Shirsa Labs raises $500k funding

Education technology startup Shirsa Labs Pvt. Ltd has raised $500,000 in a funding round led by investment network  Cross Border Angels.

According to source-based report in VCCircle, the round also saw participation from investors including ah! Ventures; Dewang Neralla, chief executive of payment service provider Atom Technologies Ltd; Mahesh Kothurkar, founder of consultancy Global Footprint Advisory and other angel investors.

The Mumbai-based startup plans to use this latest funding to catalyse its marketing in India and scale up business in the industry and presence among the subscribers.

Shirsa Labs was founded in 2013 by Sukhada Tendulkar and Mandar Desai. It runs a website called ‘Planet of GUI’ to entertain and educate children in the age group of 6-13.

In November 2015, Shirsa Labs raised $250,000 in angel funding from ah! Ventures.

Corefactors raises pre-Series A round from ah! Ventures

Bengaluru-based marketing management platform Corefactors has raised its pre-Series A round funding from growth catalyst firm ah! Ventures.

Financial details of the funding round were not disclosed.

According to an official statement Corefactors  plans to use the capital raised for branding, marketing and expanding its services to other geographies.

Corefactors is a multi-channel campaign management, business communication and analytics company. It offers custom solutions to large manufacturing and corporates for managing their campaigns across channels.

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