Roposo raises $5 million from Tiger Global
Fashion-focused social network Roposo.com has raised $5 million in a round of funding led by Tiger Global, reports Economic Times. India Quotient and Flipkart co-founder Binny Bansal, who had invested in the company in July last year, also participated in this round.
Roposo had officially launched in May last year. The platform aggregates fashion merchandise from various e-retailers on its site to offer fashion recommendation to consumers. It currently offers recommendations from over 150 websites across various categories like clothes, bags, jewellery, shoes, lingerie and accessories among others. Users can click on specific product of their preference and save it to their list or purchase it from the respective e-tailer.
Peesh Venture Capital launches $50 million fund
US-based Peesh Venture Capital (PVC) has launched PVCII, a fund worth $50 million, for early stage investments in startups in India, reports NextBigWhat. The fund will invest in technology ventures in the IoT and mobile space in the country.
Startups at the PVC Accelerator will be provided with strategic, technical, financial and operational mentorship in Bangalore and Gurgaon. PVCII usually invests between $100,000 to $5,000,000 in exchange for equity in growth stage companies, while the PVC accelerator will invest between $5000 and $100,000 in exchange for equity.
Astrac Ventures to invest $2 million in early stage startups
Mumbai-based Astarc Ventures, the strategic investment arm of the automotive solutions group of the same name, has launched a seed fund worth $2 million, reports YourStory. The fund will invest in early stage technology startups in mobile payments, digital healthcare, digital communication, 3-D printing and data analytics.
The funds will be used to invest in 12 to 15 startups in the next few years, with investments of about $150k for early stage and $1 million for late stage startups. According to sources, the fund will be increased to $10 million in the next few years, depending on the requirements of portfolio companies. Astarc Group currently provides CRM solutions for retail stores, automotive accessory designing, and data analytics among other services and is present across India, Africa, Indonesia and the US.