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PayMate Closes $9 million Round Of Funding From Mayfield, KPCB And Sherpalo Ventures

Mobile payments company Paymate announced (BS) today that they had raised a second round of funding of $9 million. The funding has been led by Mayfield Fund, and Kleiner Perkins Caulfield and Byers (KPCB) and Ram Shriram's Sherpalo Ventures have also returned as investors. Coruscant Tec co-founders Ajay Adiseshann and Probir Roy will retain majority stake. There are a couple of things to note here: -- The timing of the announcement: There have been reports that the RBI will release guidelines for mobile payments on the 15th of June, and I'm told that there was a seminar in Mumbai last week focused on the implications of these yet-to-be released guidelines. KPCB and Sherpalo have a history of investing in companies, and announcing the funding the time is right, so it's possible that Paymate received funding a while back, but with…

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