Start-ups in the news

LimeRoad raises $15mn
A M Marketplaces, a Gurgaon-based start-up that runs LimeRoad, an online social discovery platform for women, has raised $15 million in a series-B round of funding, led by Tiger Global. Old investors Lightspeed Venture Partners and Matrix Partners India have also invested. The investment comes on the back of LimeRoad's launch of its Android mobile app. "The LimeRoad team has already disproved many accepted notions in the world of Indian online commerce-for example that it is not possible to grow without offering heavy discounts or that Indian users aren't savvy enough to embrace deep social activities like scrapbooking, curating collections or sharing," said Bejul Somaia, managing director, Lightspeed Advisory Services India, an investor in LimeRoad. LimeRoad hosts a wide range of brands and stores, and offers consumers tools to curate and share collections, referred to as scrapbooks. The platform covers apparel and accessories, including footwear, bags, and home & living.

Norwest invests in CRM Next
Customer relationship management company CRMNext has received funding of Rs 42 crore from Norwest Venture Partners for expansion and furthering research activities. The capital will be used to accelerate its global reach and fuel investments into the research and innovation portfolio. The company has not disclosed details of the stake sold to the venture capital fund.

Embibe raises $4 million
Embibe, a Mumbai-based online test preparation portal specialising in engineering entrance tests, has raised $4 million from early stage investor Kalaari Capital and newly formed venture fund Lightbox.

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