Nirvana Ventures Invests in Reviews42
Bangalore: Reviews42, a community based product review platform has received an undisclosed amount in its Series A round funding from Nirvana Ventures, Rahul Khanna; MD, Canaan Partners and few other undisclosed investors. Apart from them, existing investor Blume ventures also took part in the funding whereas VenturEast Partners exited. The funds raised will be used by the company to build a large catalogue and integrate offline retailers with technology; reported DealCurry.
Delhi based Consumer Products Research platform, Reviews42 was founded in 2011by Surjendu Kuila, Neeraj Jain and Mani Jagadeeshan. The company aggregates user reviews based on ratings from users, which covers up to 6000 products across categories such as computers and accessories, mobile phones, clothes and kitchen appliances. It allows users to browse and search through products by brand, categories, features and price and offers a detailed specification page along with user reviews, expert reviews, buying tips and overall ratings.
Nirvana Venture is a $75 million early stage Venture Capital fund set up by Amit and Arihant, sons of Gajendra Patni. The VC fund aims on mobile and internet start-ups in India and plans to invest $500K to $4 million in early stage, apart from the later-stage investments.
Off lately, Nirvana Venture alongside Bessemer Venture Partners acquired stake in HealthSprint, a healthcare IT services company. It made its first investment in August 2011 by investing in NextLeap Career Solutions. The fund also acquired 10% stake in online gaming company; Games2Win from Nexus Venture Partners and ICICI Ventures.
