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Updated funding digest: PressPlay, Examify, Orios, Unocoin and EMC Corp

Travel entertainment startup PressPlay raises $500,000 from angel investors

Press Play

Travel entertainment startup PressPlay raised $500,000 in funding from a group of unnamed angel investors, reports TechCircle.

PressPlay was founded in December 2013 by Anand Sinha and George Abraham, former national head of sales at Zomato UAE and sales head at Zomato India, respectively.

Sinha told the publication that the funds will be used to purchase hardware, and to set up operations in several cities across India.

PressPlay offers passengers travelling on long-distance buses tablets pre-loaded with entertainment content. The company claims to have 1000 tablets pre-loaded with 30 movies, 1000 songs and 10 documentaries and 10 animated features, and charges Rs 100 for 5 hours of entertainment. The company also claims to have already served more than 25,000 users across 8 cities.

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Examify raises $80,000 from individual investors

examify-logoMumbai-based online exam preparation startup Examify raised $80,000 in a round of funding from Kanwaljit S Bombra of SBC Consulting & Investments LCC and CEO of MeemAin Capital Advisors Taher Khorakiwala, reports Techcircle. Apparently, the investment happened back in March this year, when the two investors picked up more than 23% stake in the company.

Founded by Angad Nadkarni and Samudra Bhuyan, Examify was launched in December 2012. The company intends to use algorithms and crowdsourcing to generate intelligence around various examinations, allowing students to filter important questions and topics. Interestingly, Samudra Bhuyan one of its founders quit in December 2013 for unknown reasons.

Angel investor Rehan Yar Khan raises Rs 300 crore

orios-logoAngel investor Rehan Yar Khan has raised Rs 300 crore for his venture capital fund, Orios Venture Partners, reports Deal Curry. Seventy percent of the funding was raised from ultra high-networth individuals (HNIs), while the rest came from institutional investors.

Orios is a ‘seven year high risk high return’ fund which plans to invest in startups in the consumer internet and software product space. The venture will seek to invest 85-90% of its capital in late stage funding while spend the rest on seed funding.

Unocoin raises $250K from Bitcoin Opportunity Corp

unocoin-logoTumkur-based Bitcoin startup, Unocoin has secured $250,000 in funding from Barry Silbert’s Bitcoin Opportunity Corp, reports NextBigWhat. The startup will use the funds to scale up its platform, increase marketing efforts, achieve regulatory compliance and manage security expenditures.

Unocoin currently offers trading, storage and merchant processing of bitcoins. It accepts payments in INR and claims to charge 0% transaction fee. While some gateways in India currently offer services to merchants for accepting payments in Bitcoins, the RBI is yet to make up its mind about the digital currency, which it could possibly ban entirely.

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Bitcon Opportunity Corp has previously funded over 30 digital currency companies internationally, including CoinBase, Circle, BitPay, Xamp, BitPagos and Volabit among others.

EMC Corp sets aside $2.3 billion for acquisitions

emccorp-logoStorage maker EMC Corp has set aside $2.3 billion for acquiring startups this year and is currently in the process of negotiating with Indian startups its interested in buying, reports Economic Times. The company will be looking for startups in the areas of software defined storage, flash storage and converged infrastructure. It claims to have previously committed to a total of $2 billion investment in India over a period of 5 years between 2010 and 2014.

EMC Corp also has plans underway to launch DSSD-based products in India early next year, targeting customers with SAP HANA or Hadoop. The company, which employs 3,500 people in India, will be looking to hire data scientists, storage experts and engineers in the country to further this effort.

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