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Funding roundup: POPxo, PayPal, GetVee, Collegedunia, SectorQube & More

POPxo raises Rs 3 crore from various venture capitalists

luxeva-logoLuxeva Ltd owned digital publication about women’s fashion, beauty and lifestyle POPxo.com has raised Rs 3 crore in a round of funding from individual investors including CaratLane.com’s Mithun Sancheti, who invested through Chennai Angels, Google India chief Rajan Anandan, Vitabiotics’s Tej Lalvani, Hussein Kanji of Hoxton Ventures and Chris Mathias, reports Techcircle.

According to POPxo, it will use the funds to open a Delhi office and hire more people, along with developing videos and other content formats. Founded by Priyanka Gill and Namrata Bostrom, the website targets females between the ages of 18-34 in India, and publishes around 6-8 stories daily, by in-house writers. The website currently claims to receive over 1 million monthly viewers, and has partnerships with brands like Fendi, Lakme, Wills Lifestyle, Swarovski, Westside etc.

PayPal to incubate two new tech startups at ‘Start Tank’, Chennai


PayPal India announced the selection of two new tech startups, Clockwork Interviews Private Limited and Demach Software India Private Limited, to incubate at its ‘Start Tank’ incubation centre in Chennai. The startups were selected as the winners of Start Tank Incubation Challenge finals held on the 31st of October, which included 11 other startups.

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Overall the Incubation Challenge received over 60 applications from various startups. Selected startups are provided with an obligation-free environment at the Chennai development centre, which has over 11,000 square feet of office area including a conference room and other amenities. Last year, PayPal had formally launched this incubation centre, in association with TiE Chennai, in November, and currently hosts four startups here, including Fantain, DoParTime, Hey Feedback and Kobster.com.

GetVee Technologies raises $1 million for dating app ‘Vee’

getveelogoMobile app maker GetVee Technologies Pvt Ltd. has raised $1 million in a pre-series A round of funding from early and growth stage VC fund Lightspeed Venture Partners, reports Techcircle. According to the company, it will use majority of the funds for product development and team expansion, especially in engineering, while the rest for marketing activities.

Founded this year in April by Nitin Gupta, the startup currently offers an app called ‘Vee’ that connects single people with other of similar tastes. The app only connects two people when both ‘like’ each other, and then allows for conversation between them. The app currently claims to have seen more than 50,000 downloads on iOS and Android, with over 23,000 pairs created. The app plans to monetize using a paid subscription in the near future.

Collegedunia.com raises 1 crore from various investors


Delhi-based online education portal Collegedunia.com has raised Rs 1 crore from the affiliate marketing company 3.14 Digital, CEO of Gaadi.com Umang Kumar and other investors, reports Businesswire India. The portal said it would invest the funds in building content and improving its technology.

College Dunia currently claims to list over 20,000 colleges and 6000 courses on its platform, in various categories like management, engineering, arts, medical etc. Colleges can be searched for and narrowed down by users based on its location, ratings, rankings, fees and cutoff limits for competitive exams. The website also lists the details of various competitive entrance exams in India.

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SectorQube’s MAID raises over $74,000 from Kickstarter

sectorcubelogoSectorQube Technologies Pvt Ltd., has raised over $74,000 via the crowdfunding platform Kickstarter for its flagship product Microwave Android Integrated Device (MAID), reports Techcircle. The target goal for the campaign was $50,000, which the company reached with over 26 days to go. According to the company, it hopes to reach $200,000-$300,000 by the end of the campaign on the 3rd of December this year.

MAID is a microwave oven which doubles up as a kitchen assistant, that the company claims will know every recipe and cook every dish. The oven will be connected directly to the internet for access to crowd-sourced recipes and will let users search for recipes based on ingredients or the type of dish. Users will also be able to ask ‘Maid’ to recommend a dish. The firm eventually plans to expand to other home appliances.

Angel investor network RAIN invests in three startups


Rajasthan-based RAIN (Rajasthan Angel Investor Network) has announced investments in three Jaipur-based startups, including the online media company Blue Box Media Pvt Ltd, Kidswids a unit of MakerKart the 3D printing company, and Locus Transit owned auto rickshaw finder app Chaloge Kya, reports the Times of India.

This round of investment was led by Sanjay Yadav, Ajay Data, Mahavir Sharma and Puneet Mittal, all RAIN members. The investment network said its currently looking at a further 5-6 companies to invest in, with about three investments likely to be finalized by the end of this financial year. The network had previously acquired 30% stake in the online marketplace for organic products, Organic Shop.

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