SmartPocket raises funding from Sol Primero and Rajiv Mehta

smartpocketSmartPocket has raised Rs 1-1.5 crore in a round of seed funding led by the investment firm Sol Primero and angel investor Rajiv Mehta, reports NextBigWhat. The startup will use the funding to change the UI and acquire users and business partners.

The app works by connecting brick-n-mortar stores and business to customers for managing loyalty memberships and to send personalized offers. Users are also able to track their memberships, make inquiries, book appointments and make purchases with stores they have a membership. Currently the app partners Puma, People, Regal and Peter England as its partners and offers new merchants a 3-month free trial.

Graphene Semiconductor raises Rs 4.95 crore in seed funding

graphenesemiBangalore based Graphene Semiconductor has raised Rs 4.95 crore in seed funding from the state government funded Karnataka Semiconductor Venture Capital Fund (KARSEMVEN). The company will use the funds to expand and scale up its operations.

Founded in 2013 by Vilas Bhade, Shrikrishna Gokhale, Vinay Hebballi, Ravi Arora, Nandagopal Ananda and Pramod Sabnis, the company provides IC design services, software development and testing services, system design services, talent empowerment services and IP enablement services. It markets its services to customers in the semiconductor, embedded products and soft-IP business space and currently claims to have over 15 customers globally.

IIT Bombay’s ‘10 Minute Million’ initiative funds six startups with 10 lakh

Six startups including SnackExperts, CleverSharks and Faaya raised Rs 10 lakh in funding at IIT Bombay’s E-summit, through its ‘10 Minute Million’ on-spot funding initiative, reports the Indian Express. Startups get 10 minutes to pitch to a panel of investors for raising Rs 10 lakh. The 10 lakh could come from multiple investors.

Over 100 startups registered for the event from sectors including food, education and e-commerce, of which eight were pre-screened. Only startups with a viable product were eligible to participate. Investors at the event included Chairman NASSCOM product council Ravi Gururaj, Bharat Banka of Birla Group, Director of Adapty Vijay Talreja, and COO of Tata Teleservices Suneel Bandhu among others.