Investments Digest: X2PN, Motoring Magazine, Moods of Cloe and PICKME


Knewcleus, education management software company has acquired X2PN, an education startup that provides learning solutions in an equity swap deal for an undisclosed sum, reports TechCircle. The acquisition is intended to help Knewcleus enter the mobile space using X2PN’s technology. X2PN’s learning application Dr.Infinity will be launched in June 2013 in the iOS and android platforms after modifications by Knewcleus. Going forward, X2PN will be merged with Knewcleus and will cease to exist as a separate entity.

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Delhi Press has acquired Motoring magazine from Business Standard for an undisclosed sum, reports Afaqs. Motoring’s business and editorial teams have also been absorbed as part of this acquisition deal. Pablo Chatterji will be the new Managing Director of the magazine taking over from Srinivas Krishnan who quit in February 2013.

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Moodsofcloe, online lingerie store run by Purple Panda Retail Pvt Ltd. has received undisclosed sum of seed funding from Zurich-based Mountain Partners AG and an arm of the Kanwar family, reports TechCircle. Moodsofcloe is looking at an offline expansion in the top 6 metros along with a simultaneous global launch. Presently, the company claims to have processed 1,000 B2C orders and have a traffic 0.5 million visitors with 35% of them being repeat visitors. They sell their products on other ecommerce websites as well.

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PICKME has raised $1 million in Series A from Mumbai Angels, Bangalore Angels and Chennai Angels reports NextBigWhat. PICKME provides pick up and drop of gadgets for repair from consumers to the repair shop. Currently present in Mumbai, Delhi (NCR) and Bangalore, the company plans to expand to other cities such as Ahmedabad, Hyderabad, Chennai, Kolkata, Guwahati, Jaipur and Pune. They charge Rs.150 as an annual subscription fee for unlimited pick ups and drops.

PICKME claims to have answered more than 1 lakh consumers’ queries, gets around 40,000 calls every month and has  around 45,000 subscribers, mostly from Mumbai and Delhi (NCR)


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