iPanache Pvt Ltd, which runs social gifting platform CheersOye!, has raised angel funding  of little less than $500,000 from a group of affluent individuals. The funding will be utilized to introduce other entertainment categories, hire staff and expand to other cities.

Prozo, an online marketplace for buying and selling study material, has raised its Pre-Series A round of funding from a London-based venture capital firm and two affluent individuals. Prozo claims to be a search engine where students can buy books, e-learning content, coaching material and personal notes.  As per its website, about 200 publishers and 60 digital content producers such as Aakash Institute, CrackVerbal, Brilliant Tutorials, Plancess, learnpedia, Meritnation and Toppr.com are selling on its platform.

Venture debt firm InnoVen Capital India has extended loans worth a total of $6 million to consumer analytics company Capillary Technologies Pvt  Ltd and education technology start-up Simplilearn Solutions Pvt Ltd. Backed by Singapore’s sovereign wealth fund Temasek Holdings Pvt. Ltd, InnoVen Capital extends growth capital in the form of debt to start-ups in south-east Asia, in the range of $50,000 to $5 million for an average of 36 months at an interest rate of 13-19%.