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Funding Roundup: Bluegape, Medypal & LocalBanya

Online fan merchandising store Bluegape has raised Rs 1.56 crore from eight global angel investors via an online funding platform LetsVenture.com, reports The Economic Times. The company plans to use the investment raised to strengthen its technology and supply chain. Prior to this, Bluegape had raised an undisclosed amount of seed funding as convertible notes from Willow Investment Management LLC's Aniket Khera & Rahul Bhatia and an undisclosed entrepreneur. It was also part of Times Internet's startup accelerator TLabs, as part of which it had received investment of Rs 10 lakhs. Started in August 2011 by Sahil Baghla and Ayush Varshney, Bluegape allows customers to shop for various products like customized men's and women's apparel, footwear, home decor and home furnishing products and customized products like laptop skin, mugs among others. It also allows users to shop for fan merchandise of cartoon characters (Tom & Jerry, Scooby Doo, Mickey Mouse & Chote Bade), film & music (Krrish 3, Indian Ocean), superheroes (Batman,Superman), gaming (Angry Birds) social causes (Aam Aadmi Party) and others. Bluegape pays a royalty fee of 10% to the brands for each purchase. *** Bangalore-based Commerzpoint Networks which owns and operates the online healthcare marketplace Medypal has raised investment from Unitus Seed Fund. While the investment amount was undisclosed, a TechCrunch report mentions that Medypal has raised $400,000 in this round. Founded by Rammohan P and Dr. Brahmesh Jain, Medypal allows consumers to quickly get quotes for medical procedures from different health service providers, who will bid for their spend. The company mentions that it will be serving customers across all income levels…

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