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Funding roundup: Scrollback, Velvetcase, Rail Yatri & 500 Startups

Scrollback raises Rs 3 crore from Jungle Ventures

scrollback-logoFree and open source chat service Scrollback has raised Rs 3 crore investment led by Singapore-based Jungle Ventures, reports the Economic Times. The company plans to use the funds to expand its coverage to more forums.

Founded in June 2013 by Aravind Ravi-Sulekha and Gaurav Srivastav, Scrollback is a chat service for online communities and forums. It basically hosts chat rooms that can be embedded into web pages or linked to IRC channels and Twitter hashtags. The platform is written in Node.js and hosts its source code on GitHub. The company was previously incubated at the Joyful Frog Digital Incubator in Singapore.

Velvetcase raises $1M from The Chennai Angels


Mumbai-based online designer jewelry store Velvetcase has raised $1 Million from The Chennai Angels. The investment was lead by The Chennai Angels members Kayar Raghavan & Lakshmi Potluri with participation from other angel investors like Jacob Kurian, Jerry Rao and Arihant Patni.

Founded in 2012 by Kapil Hetamsaria & Runit Shah, Velvetcase offers custom & designer jewelry. The company claims to have partnered with several designers across the world to offer various jewelry designs to consumers. This includes Payal Pratap, Bombay Atelier, Inara and Tilly Shaw among others. It currently offers products like rings, earrings, bracelets & necklaces among others.

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Rail Yatri raises seed funding from Blume Ventures

RailYatrilogoNoida-based Stelling Technologies Pvt Ltd which operates the crowd-sourced travel service Rail Yatri, has raised an undisclosed amount of seed funding from the early stage investor Blume Ventures and an unnamed existing US-based investor, reports TechCircle.

The funding happened in February this year and the company mentions that it is now planning a social media interface for the web, where travellers can share their current location and their coach number with friends and family.

Founded in 2012 by Manish Rathi, Sachin Saxena and Kapil Raizada, Rail Yatri provides a range of public & crowd sourced content related to train travel in the country, through its website and mobile app. It also offers train-related information like ticket status, train status and waitlist confirmation and various travel-related services like taxi booking and meals on delivery on the train among others. It had also launched a train tracking app called Rail Radar last year.

500 Startup launches $10m fund for mobile startups

500Startups Logo500 Startups has launched a new micro-fund called the 500 Startups Mobile Collective which intends to invest $10 million in growth stage mobile startups. RightVentures founder Edith Yeung will manage the new fund.

Besides funding, the company mentions that it will also provide access to mobile OEMs & carriers and provide advice on mobile-focused distribution, monetization, commerce and payments among others through a collective of several advisors that include early Twitter & Square investor Greg Kidd, former Mozilla COO and interim Mozilla CEO Jay Sullivan, 91 wireless co-founder and CEO Joe We and Dolphin Browser founder & CEO Yongzhi Yang.

A MedCity News report suggests that this fund will also invest in mobile health startups in India, Africa and China.

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Update: Velvetcase has raise $1M, we were informed via a subsequent note. The story has been updated to indicate the same.

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