Caravan Craft raises 3 crore, to expand in Europe and India
Handicraft store Caravan Craft Retail has raised Rs 3 crores in a round of funding led by individual investors Narayan Ramachandran and Bijou Kurien and the investment fund Unitus Seed Fund, reports ET. The startup will use the funds to expand its presence in India and Europe and acquire customers.
Caravan currently sells offline and through its online store. The company said its in the process of revamping its website and launching across other online channels and ecommerce website. Caravan has a retail store in Bangalore and Pune, other than duty-free outlets at the Bangalore and Mumbai international airports. Other than this the startup will also open at the Delhi airport soon as is looking to partner departmental stores in France, Switzerland and other European countries.
Appbase raises $180k in funding from Techstars and Carnegie
Appbase, which lets developers build real time and collaborative app through its API, has recently raised $120k from Techstars and $60k from Carnegie Mellon University, reports YourStory. Prior to this, the startup had received $10k from the entrepreneurship cell at DA-IICT and $100k in grant from the startup Brasil program.
Appbase provides a realtime events based database API, collaborative features like user authentication, security rules via REST API and ‘ElasticSearch’ powered search. Developers using the Appbase API can access it cross platform, on mobile, web and other devices. The platform currently offers tiered plans ranging from $20 to $100, for 1m API calls to 20M API calls and other varying features.
Persistent launches $10 million Venture Capital Fund
Pune-based IT company Persistent System has launched a $10 million venture capital fund to invest in very early stage startups, reports ET. The fund will look to invest in up to 40 startups, and has already invested in five startups internationally.
The company mentioned the timeframe till which the fund will stay invested in will typically stay 3-5 years, post which if the investee company is doing good, it will be acquired by Persistent. Note that Persistent’s competitor Wipro was reportedly setting up a $10 million venture capital fund in July last year, Infosys had setup a $100 million innovation fund in April 2013 and TCS is associated with the accelerator Startupbootcamp.
Image sources: Caravan Craft
Editor’s note: We’ve removed SmartAirTrip from this post. We’ll reinstate it upon verification. Frankly, a startup claiming a $100 million valuation and already preparing for an IPO appears not to be believable. Our apologies for its inclusion without verification.