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MyFirstCheque invests in tech start-up mKay
By siliconindia
Bangalore: MyFirstCheque, a seed fund, announced its investment in Bangalore-based mKay Innovative Solutions, a web-based tech start-up. This is its second investment since its launch in December 2010, the first being in MeriCar.com in March this year.
Founded by Gautam Sinha, Prahlad Rao and Monisha Advani, MyFirstCheque believes not just in being an investor, but it also embraces the task of evaluating and entering a business as a co-founder. With average investments of 
20 lakhs and a maximum of 25 lakhs, it follows a unique funding model of 'Co-Fun investing' which stands for a co-founder investing, affirming its role in mentoring and guiding entrepreneurs besides funding.
Sinha will join mKay's board. Speaking about the deal, he said, "We see tremendous potential in the idea and the space that mKay is in, however the tipping point for us was the quality of the entrepreneur. Karunjay?s focus and persistence is what made us invest in him and his venture. The added fact that he has already put together an impressive team within such a short time sealed the deal! We are seeing lots of passion among the young Indian brigade to embrace entrepreneurship and hope to announce several such investments in the months and years to come."
Founded by Karunjay Anand, mKay is a tech start-up that aims to provide solutions, services and products for various domains like IT, Education, Legal, Healthcare, Agriculture, Social Welfare among other under one web platform. As the navigator project, mKay?s first web based service apply2many.com will address the problem of college applicants and educational institutions. Online Enroll Enlist Service by mKay will automate and streamline application procedure by managing application forms, admission procedures, applicant profiles, fee payment modes and applicant-institution interactions on a single virtual platform.
On the occasion of the announcement of the funding, Anand, stated, "We are extremely pleased that in such a competitive market, our potential has been recognized by MyFirstCheque. It's overwhelming to see that someone else believes in your venture and provides consistent support. I got great response from both Gautam Sinha and Prahlad Rao, and I feel that if organizations like MyFirstCheque exist in large number in India, entrepreneurship will never be a distant dream."
20 lakhs and a maximum of 25 lakhs, it follows a unique funding model of 'Co-Fun investing' which stands for a co-founder investing, affirming its role in mentoring and guiding entrepreneurs besides funding.
Sinha will join mKay's board. Speaking about the deal, he said, "We see tremendous potential in the idea and the space that mKay is in, however the tipping point for us was the quality of the entrepreneur. Karunjay?s focus and persistence is what made us invest in him and his venture. The added fact that he has already put together an impressive team within such a short time sealed the deal! We are seeing lots of passion among the young Indian brigade to embrace entrepreneurship and hope to announce several such investments in the months and years to come."
Founded by Karunjay Anand, mKay is a tech start-up that aims to provide solutions, services and products for various domains like IT, Education, Legal, Healthcare, Agriculture, Social Welfare among other under one web platform. As the navigator project, mKay?s first web based service apply2many.com will address the problem of college applicants and educational institutions. Online Enroll Enlist Service by mKay will automate and streamline application procedure by managing application forms, admission procedures, applicant profiles, fee payment modes and applicant-institution interactions on a single virtual platform.
On the occasion of the announcement of the funding, Anand, stated, "We are extremely pleased that in such a competitive market, our potential has been recognized by MyFirstCheque. It's overwhelming to see that someone else believes in your venture and provides consistent support. I got great response from both Gautam Sinha and Prahlad Rao, and I feel that if organizations like MyFirstCheque exist in large number in India, entrepreneurship will never be a distant dream."
