wordpress blog stats
Connect with us

Hi, what are you looking for?

APUS Group to setup Rs 300 Cr fund for Indian mobile startups

Funds-stock-photo

China-based mobile internet firm APUS Group has launched a fund in India worth Rs 300 crore to invest in startups, reports Vccircle. The fund will focus on investing in early stage startups working on mobile internet projects.

The company will also encourage Indian startups planning to enter the Chinese market through the APUS Global Mobile Internet Incubator in Beijing. The incubator will help with company registration in China, provide office and living space and offer legal support.

Note that in August, APUS Group founder and CEO Li Tao had led a round of funding in the technology news portal iamWire. The company planned to use the raised capital for building scalable technology for startups, while a part of the funds would also be utilized to innovate on content to further grow the community.

APUS is an Android app development company and offers apps like APUS browser, user system, message centre, flashlight etc. Founded in 2014 by Tao Li, the company raised $100 million in a series B round of funding in January this year, after having raised $15 million in a series A round in 2014.

Recent VC funds in India:

– Last week, venture capital firm Tiger Global Management raised $2.5 billion for a new global fund. Read more here.

– In March, Venture capital firm SAIF Partners raised $350 million for a new India-focused fund from 27 investors.

– The same month, Accel Partners, the venture capital firm that backed the Flipkart, launched a $305 million India-focused fund to capitalise on favourable conditions for start-ups.

– In July, seed-stage fund AngelPrime raised Rs 300 crore from The Social+Capital Partnership and several institutional investors.

– Mayfield Fund closed its second India-dedicated fund at $108 million in February.

– Sequoia Capital added another $210 million to its existing $530 million-India fund in April.

Image credit: Flickr user GotCredit

You May Also Like

News

Paytm has hived off its payment gateway business into a separate entity, Paytm Payments Gateway Service Pvt Ltd, and has infused ₹100 crore worth...

News

Restaurant aggregator and food delivery company Zomato has raised US$660 million (over ₹4,850 crore), taking its valuation to ₹3.9 billion. CEO Deepinder Goyal tweeted...

News

The Securities and Exchange Board of India (SEBI) will now allow investors to make UPI payments to purchase public issues of debt securities, it...

News

The Indian government has amended the internet shutdown rules, formally known as the Temporary Suspension of Telecom Services Rules, to restrict the validity of...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ