Blume Ventures reveals fresh investments in 6 startups
Early-stage VC fund Blume Ventures has disclosed its investments in six startups, made during July-December 2012. Although Blume has revealed the company names in its investment report, funding details and performance updates of its portfolio firms are not available.
Here is the list of the six startups that raised money from Blume.
Gharpay: Founded by Abhishek Nayak and Arpit Mohan, Gharpay offers a doorstep cash payment network for enterprises. The company claims to have a network of more than 1,000 pincodes across the country and its key clients include BookMyShow, Info Edge, Cleartrip, Zomato, Groupon and Jet Airways, among others.
WebEngage: Set up in 2011 by Avlesh Singh and Ankit U, WebEngage offers customer feedback and survey tools for online companies through a SaaS model. The startup offers free plans with limited functionality and enterprise plans for corporate houses. Its key clients include Snapdeal, Intuit, HomeShop18, MakeMyTrip, Cleartrip and BookMyShow.
Printo Document Services: Started by Manish Sharma and Lalani Zaveri, Printo provides online and offline printing solutions. Customers can place orders online for business cards, business stationery, flyers, brochures, customised diaries, etc. The company also provides customised photo and personalised products such as calendars, diaries, photo mugs and photo T-shirts.
CareerVita: Founded by Girish Baliga, CareerVita provides video-based recruitment solutions for pre-screened potential job applicants. It also conducts virtual job interviews. Global Academy of Technology is one of its several customers.
Grey Orange Robotics: Set up by Samay Kohli and Akash Gupta, Grey Orange Robotics builds products and services for robotics and warehouse automation businesses.
Nivaata Systems: Founded by Sriram Kannan, Nivaata offers a paid mobile application called Verayu that allows users to track their phones through the web. The company also offers a GPS tracking device called Yantra.
Other companies in which Blume invested during July-December 2012 (these were disclosed earlier) include games developer MadRat Games; Playground Online, an e-commerce venture focusing on sports, fitness, nutrition, etc.; RedQuanta, a developer of customised mystery shopping programmes for online and offline businesses for evaluating consumer experience and Unamia, an e-commerce venture which focuses on kids' apparel.
Blume Ventures was started by Sanjay Nath and Karthik Reddy in 2010 and in an earlier interview with Techcircle.in, Nath stated that the strategy of Blume is to opt for a co-investing model to mitigate risks of early-stage investments.
(Edited by Sanghamitra Mandal)