Flipkart backer Accel is leading a $10-million series-B funding round in AgroStar, a mobile commerce platform for farmers to procure raw materials. The funds raised will be largely focussed on technological upgradation, which includes prioritising building technological capacities in-house, expanding across states in the country, besides focusing on hiring in areas of technology, marketing, data science and analytics.
Early-stage fund Parampara Capital, post its announcement of a tie-up with IDFC Alternatives, the private equity arm of IDFC Group, has announced its first investment in NCRbased cyber security and cyber intelligence startup Data Resolve Technologies. The funding will be utilized for scaling up sales and tech teams, executing expansion plans across India and the Middle East and for launching innovative products.
Listed Chinese gaming company Youzu Interactive is entering the Indian market with plans to launch local Indian casual strategy games in 2017 through its unit set to come up in Pune. Independent sources estimated the company would invest $10 million to create local games, scout for acquisitions and for investments and partnerships in gaming and entertainment startups in India.
Television broadcaster Star India has picked up a minority stake in Bengaluru-based media-tech startup Zapr Media Labs, which owns a proprietary technology that analyses television viewership with the help of audio recognition tool. Zapr provides targeted digital analytics and insights into offline consumption behaviour and Star India’s OTT platform Hotstar will join forces with Zapr to build a deeper understanding of mobile audiences.
Gurgaon-based fashion and lifestyle discovery platform SummerLabel has raised INR 1 crore ($150,000) in seed funding from a clutch of high net worth individuals. The funding will be utilized to strengthen technology backbone and build a robust network of private labels, users and influencers, besides expanding the team.