Weekly Tech News RoundUp from India

03:50 | Kamla Bhatt | Jan 11th, 2007 2:36pm |

Media- and entertainment-related funding appears to be the trend with angel investors. Recently, MadHouse Media, a movie rental start-up, received their first round of investment from angel investors. The investors included the Band of Angels, Mumbai Angels and some private investors.

Dr. Kumar Shiralagi joined NEA IndoUS Fund which is yet to launch its operations. Previously Dr. Shiralagi was with Intel Capital India.

Educational institutions are also looking to raise money for their incubators. The Indian Institute of Technology, better known by their acronym IIT, is looking to start a venture fund. IIT Mumbai is already in talks with Infosys and Tata Consultancy Services (TCS) to start a venture fund.

In merger and acquisition news, the dominant topic of conversation continues to be about Hutch Essar, India’s fourth largest mobile provider. Hong Kong-based Hutchison Whampoa wants to exit out of Hutch Essar and there’s a queue of bidders who want to pick up the Hutchison stake. In the last few days, UK-based Vodafone has emerged as a strong contender and has already begun its due diligence process of Hutch Essar.

Bangalore based i-flex Solutions has acquired the Singapore subsidiary of Capco, The Capital Markets Company. While there ...