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Afaqs.com Raises $3M From SeedFund; To Launch 3 Portals By Early 2014

Banyan Netfaqs Pvt Ltd has raised $3 million in its third round of funding from Seedfund, an early-stage venture capital fund, reports Techcircle. The report states that the company had previously raised investment from Infinity Ventures in 2000 and from Seedfund in 2007 and following this investment, Seedfund reportedly has a significant minority stake in the company. However, there is no specific information regarding this. Launching Three New sites: The company plans to use the funds raised to build The Mobile Indian brand in the online and offline segment, as indicated by the report. It also plans to launch a lifestyle content site in the next four months and two other sites by early next year. However, the company hasn't disclosed any specific information what segment will these sites target, although an IndiaDigitalReview article suggests that these sites will be non-news sites and will focus…

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