The Indian Express Group has invested an undisclosed amount of funding in Envoged, PayMango, Mr Homecare Services and Spiral Content Solutions, as a ‘natural extension of its strategic business model’. This development was first reported by VCCircle.
Spiral Content: is a content marketplace which curates Indian and international content which brands can use on social media and digital platforms. It aims to build tools and platforms which will allow brands to become publishers, the press note said. Although unclear, the Indian Express might have a content sharing agreement with the company, while providing the publishing group with social media content.
Its content marketplace Scatter (which was launched by Rajan Srinivasan in February this year) provides personalised content for advertisers and also helps in planning campaigns. For advertising, its clients include eBay, Club Mahindra, Gionee, Samsung, Snapdeal and Maruti Suzuki among others. For publishers, the product offers integration, access to a new audience, content rediscovery and monetisation. Its publisher network includes LifeHacker India, Lonely Planet, NDTV Auto, NDTV Gadgets, Tech2 and the Times Group.
PayMango: In June, the hyperlocal marketplace PayMango raised between Rs 1-1.5 crore in seed funding from undisclosed investors,which it would use to get on board more merchants in the Gurgaon region, and for app development. It was founded by Gajinder Singh and Ram Singla and provides local stores an m-commerce platform.
Mr Homecare: is an on demand maintenance services platform for businesses and consumers. The company plans to build a strong backend with the investment, according to Rushabh Vora, co-founder and CEO. The service is currently live in Mumbai, Pune and Bangalore with plans to expand to Delhi and other markets in the country. It offers AC and car services with cleaning, handyman, bike care, painting and pest control services. As of now, the company claims to have serviced 3,000 homes and 250 businesses.
Envoged: In September, the online fashion re-commerce platform raised an undisclosed amount in seed funding led by Ankush Nijhawan, Manish Dhingra and Gaurav Bhatnagar, with participation from Himanshu Aggarwal, Jackky Bhagnani, Anant Goenka and Alok Mittal. The company said that it would use the funds for technological advancements and expanding its reach.
The Express Group’s digital division claims to reach over 50 million unique users every month and has 32 national editions of its publications. It also has 13 publication centers and 4 language dailies which reach over 19 million people daily.
– Last week, the company signed up for Facebook’s Instant Articles with India Today, The Quint, Aaj Tak and Hindustan Times.
– In September, the Indian Express has appointed Sheela Bhatt as the national editor of politics. Bhatt joined the Indian Express from Rediff, where she worked as the editorial director.
– In August, the Indian Express entered into a strategic partnership with Arré, UDigital’s digital media brand, to jointly produce investigative documentaries.
– In June, Outbrain renewed its partnership with Network18 and brought on board a number of other Indian publications, including Indian Express, ABP Live, Financial Express, MTV India etc.
Image Credit: The Indian Express
Corrigendum: We missed crediting VCCircle in the previous version of the story and have appended it to reflect the same. We apologise for the error.