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Over $49 Million Raised By U.S.-Based Indian Startups In January

By SiliconIndia | Thursday, 02 February 2012, 03:20 Hrs

Fremont: Indian startup entrepreneurs based out of U.S. succeeded in raising around $49 million in VC funding. These startups entrepreneurs are from different verticals. Where a content-sharing tool provider Shareaholic founded by Jay Meattle raised $2 million from General Catalyst Partners, NextView Ventures, Dave McClure; Praerit Garg co-founded cloud storage vendor Symform raised the same amount in series A round of funding led by Westfield Capital, OVP Venture Partners and Longworth Venture Partners. The digital media distribution company Polar Mobile led by Kunal Gupta raised $6 million from investors Georgian Partners and Ontario Venture Capital Fund to trigger staff increase, global expansion and new product release.

The application and browser extension developer Spool raised $1 million in seed funding from SVAngel, Felicis Ventures, Start Fund, Charles River Ventures, Vivi Nevo, Steve Chen, Elad Gil, Deep Nishar, Kevin Donahue, Joe Lonsdale, Bill Lohse, David King Nils Johnson, Matt Ocko, and Raymond Tonsing. Another application based company that provides performance management solution, AppDynamics, raised $20 million in series C from Kleiner Perkincs Caufield & Byers.

In another seed round of funding, a mobile development company Trigger, which is co-founded by Sahil Jain, Amir Nathoo and James Brady; also raised $1 million from AngelList, and the investors include Paul Graham, SV Angel, 500 Startups, Russ Siegelman, Steven Walske, RightVentures, Venture51 and John Taysom. In yet another seed funding, 500 Startups, m8 Capital, Kapor Capital, Felicis Ventures, and CrunchFund infused $3.25 million in 955 Dreams co-founded by Kiran Bellubi, a mobile publishing company. GetHired, a social recruiting platform, raised $1.75 million in seed funding from private angel networks.

VendScreen which develops Android-based touchscreen for vending machines, raised $12 million. Paresh Patel, Founder and CEO denied to disclose the name of the investors stating that they are not at liberty to do so at the point of time when they raised fund.

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