Ideacts Innovations Raises Series B From Sequoia
Mumbai-based Ideacts Innovations, which makes software products targeting cyber cafes, has raised series-B venture capital funding from Sequoia Capital India and Silicon Valley Bank says VCCircle.
Ideacts had raised $5 million from Sequoia Capital in 2007, but the amount raised in second round is higher than first (Economic Times puts it between $5-9 million).
Founded in March 2007, Ideacts is an internet media venture which had launched CLINCK, an active desktop application, which creates a default interface for users to access Internet, and claimed 21,071 terminals at the time of writing this post.
The firm plans to use the funding to ramp up its operation and deploying CLINCK in tier II and tier III cities across the country.
Though it’s revenue streams are based pretty much on advertising, they claim to not have been affected too much by the slowdown, and claim a consistent growth trajectory.
Related posts:
- DealTracker – Ideacts Raises $5 Million From Sequoia
- ApnaPaisa Series B Led By JAFCO Asia, Sequoia Capital
- JustDial Raises Rs. 40 Crore From Sequoia Capital
- DealTracker – DimDim Raises $6 Million In Series B
- DealTracker – ValueFirst Raises $6 Mn From NEA
Filed under: Deal Tracker
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