Nasscom Helps Four Start-ups To Raise Funds

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New Delhi: IT body Nasscom has helped four start-ups raise funding of 40 lakh as part of its programme to help entrepreneurs turn their ideas into successful businesses.Four start ups -- Boutline, Imly, Drawtime and Routo -- raised 10 lakh each as part of Nasscom's on-the-spot funding event for pre-revenue companies, Nasscom said in a statement.

Eight pre-revenue companies were shortlisted from the applications received for the 10,000 Start-ups programme, which pitched their business ideas to a panel comprising of 10 investors.

Boutline offers event audience engagement app, while Routo has a suite of location sharing apps for business listings and location tracking.

Drawtyme has a mobile video platform for teachers to share interactive videos with students and Imly offers a marketplace of homecooked delicacies.

Under the Smart Capital, Nasscom's 10,000 Start-ups and Microsoft Venture with the support of Mumbai Angels have developed the on-the-spot funding model to help prototypes get the backing of angel investors who invest about Rs 5-10 lakh in them for the same percentage points of equity

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Source: PTI
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