Recruitment portal MyNoticePeriod, founded by former Yahoo employees, Manjunath Talwar and Abhijeet Khasnis, has raised Rs 2 crore in a seed round of funding led by IDG Ventures. As a result, Venkatesh Peddi, vice president, IDG Ventures India, will join the company's board of directors. Other investors include Prashant Kirtane, chief technology officer - Wikipedia, the free encyclopedia and co-founder of travelmob.com, Shamsunder Talreja, owner of JetSet Capital, Raghu Krishnananda, former Yahoo engineering leader, and Ravi Gururaj of Frictionless Ventures. The company plans to use the money to hire people, scale-up technology and develop a mobile application to enhance its user experience.
ItzCash raises under $15 mn
Mumbai-based ItzCash Card Ltd, a provider of pre-paid card and payment solutions, has raised under $15 million in funding from a group of unnamed strategic Asian investors, reports VCCircle. It had raised $10.3 million in funding from Matrix Partners, Intel Capital and Lightspeed Venture Partners in July 2009.
Culture Machine raises $3.5 mn
Culture Machine Media, a Mumbai-based start-up that creates digital video programmes has raised a Series A round of funding from technology-focused private equity firm Zodius Capital. The company did not disclose the amount, but news reports pegged the funds raised at $3.5 million.
iTiffin raises $1 million
Bangalore-based iTiffin Inc, which runs online tiffin service venture iTiffin.in, has raised $1 million from a large Indian family office in a seed round, reports VCCircle. The one-year-old start-up, which provides tiffin based on defined calorie count requirement, will use the money to increase operational efficiencies, set up 10 retail centres, and venture into the midnight snack segment.
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