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Druva, a leading company in cloud data protection and information management, has raised $51 million in a round led by existing investor Sequoia India and new investors, Singapore-based EDBI, Blue Cloud Ventures and Hercules Capital. Other existing investors NTT Finance, Nexus Venture Partners and Tenaya Capital participated in the round. Druva will use the money to speed up product innovation and adoption, drive sales and marketing and global expansion. With this, Druva has raised $118 million.
Scale Ventures invests in Let’s Barter
Venture capital firm Scale Ventures has invested an undisclosed amount in Delhi-based Let’s Barter, a social media driver community for barter. Let’s Barter started as a Facebook group and the app was launched in August and it has over 1.80 lakh engaged members. It provides a platform where goods and services can be bartered, without using any money.
CloudCherry raises ₹40 crore
Customer Analytics Technologies Inc, which owns SaaS-based customer experience management platform CloudCherry, has raised about ₹40 crore ($6 million) from Vertex Ventures, Cisco Investments and IDG Ventures India. The venture will use the money for global expansion, with a focus on the US, South East Asia and West Asia.
IntelleGrow’s SME programme
IntelleGrow, the venture debt financing arm of Intellecap Group, has launched an SME debt pool programme in collaboration with Geneva-based global investment company Symbiotics. This collaboration is meant to support social enterprises in India which find it difficult to raise sufficient debt facilities to meet their funding needs. It has closed the first structured finance transaction for a pool of seven SMEs amounting to about ₹32 crore ($5.3 million).
YourNest launches ₹300-cr fund
YourNest, a leading early-stage venture capital firm, has launched its second fund YourNest India Fund II, with a planned corpus of ₹300 crore. The fund will tap into Indian high networth individuals, global and Indian institutions, and fund-of-funds. The new fund will focus on pre-Series A funding of 25-30 start-ups in the technology and technology-enabled areas. It plans to fund every year 4-8 ventures, which will allow the fund to construct a portfolio where YourNest is able to co-create companies by mentoring and working closely with the start-ups. In the new fund, YourNest will focus on ventures in areas such as Internet of Things (IoT), electronic system design, Artificial Intelligence, advanced robotics, enterprise software and mobile internet. Our Bureau
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