Weekly Tech News Round-Up from India

05:40 | Kamla Bhatt | Dec 1st, 2006 11:14am |

The venture investment scene in India appears to show no signs of slowing down. In the past few days, a number of investment deals were inked and signed.

Leading the pack is Travel Guru, a travel portal, received $15 million from Sequoia Capital and Battery Ventures. Next in the list is Matrix Partners India’s investment of $5.5 million in Moods Hospitality, a parent company of Yo! China.

Digital Shoppy received a private equity placement of Rs.17.50 crores from Leverage India Fund while Skelta Software received $1.5m from SIDBI Venture Capital Limited.

SeedFund is the latest India-based fund to start operations in India. This is perhaps one of the smallest funds in India with a corpus of $10 million. The fund managers are Pravin Gandhi, Bharti Jacob and Mahesh Murthy.

London-based private equity firm Apax Partners is raising a Euro 8.5 billion fund, part of which it hopes to invest in Indian companies. InfoEdge became the first internet company to list on the Indian stock exchange in late November. Earlier this year Kleiner Perkins Caulfield & Byers and Sherpalo Ventures invested $6 million in InfoEdge that owns various onlline properties like Naukri.com, 99 acres and Jeevan Saathi, an online matchmaking site.

Recruiting good talent is turning out to be something of a challenge for many companies in India. Last week Recruit.net opened for business in India and plans to invest about $3 million in India and plans to open a software development and sales office in Bangalore reports DNA.

Finally, we take a quick look at the Forbes list of India’s top 40 richest people. Laxmi Mittal tops the list followed in the second and third place by the Ambani brothers Mukesh and Anil.

Click here for transcript.

Tags: venture investment, Travel Guru, Sequoia Capital, Battery Ventures, Moods Hospitality, Yo! China, Digital Shoppy

This entry was posted on Friday, December 1st, 2006 at 11:14 am and is filed under PodTech, Enterprise 2.0, India, Technology. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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