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Funding roundup: Lookup, RiverSilica & PayPal Start Tank

Lookup raises $160,000 from Kris Gopalakrishnan

lookuplogoFree messaging app Lookup, which lets users chat with local shops and businesses, has raised over $160,000 in a round of funding from Infosys co-founder Kris Gopalakrishnan, reports Techcircle. The startup plans to use the funds to expand to other cities including Chennai, Delhi and Mumbai.

Lookup lets consumers make reservations at pubs and restaurants, book appointments at clinics, salons, hospitals and spas, and provides information about deals, prices, timings and product availability from offline stores. The startup plans to raise $1 million total in funding, and claims to already have commitments from a few more investors which it expects to close by the end of next week.

RiverSilica raises $1.5 million from Exfinity

riversilicalogoBangalore-based RiverSilica Technologies Pvt Ltd, which offers the on-demand video distribution service called PixFix, has raised $1.5 million from Exfinity Venture Partners, reports Techcircle. The company said it will use the funds to expand to markets outside India.

Founded by Jagannathan Balaji, RiverSilica offers products and services for live on-demand video delivery for users. PixFix, one of its products, can be used to uplink a live video to YouTube or to upload it on the client’s data centre to distribute the video. The platform can be used by broadcasters, data centres, lounges, content distribution networks and automotive environments. The startup had previously secured an undisclosed amount in funding from Ojas Ventures.

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PayPal to launch Start Tank centre in Bangalore next year

starttanklogoPayPal is planning to open its incubation centre Start Tank in Bangalore next year, reports the Times of India. The incubation centre currently operates from Chennai, London and Boston. PayPal said it would eventually expand the centre to cover Shanghai and Singapore as well.

Start Tank will incubate various startups from Karnataka and host them at its development centre in Bangalore, although the number of startups to be incubated has not yet been declared. The incubation centre will incubate early-stage startups for an average of 12 months, and provide them with access to investors, mentors and venture capitalists. The Chennai based Start Tank, which was launched in October last year, currently houses six technology startups.

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