Clipbyte to raise USD 2 mn to fund business needs

City-based start-up e-commerce portal - Clipbyte.Com today said it is looking at raising around USD 2 million to fund its business needs.
"We are exploring equity infusion at regular intervals as e-commerce business needs a quantum and consistent flow of funds. We are in the process of raising close to USD 2 million," Clipbyte Chief Executive Officer Pradeep Kuber said in a statement here.
The portal provides comprehensive online services for media monitoring across broadcast, print, Internet and social media.
"Indian economy and Indians are increasingly becoming techno-savvy and hence the delivery of product is assuming equal or rather greater significance than the product itself.

"In this context, Clipbyte, with its product delivery platform for media monitoring service, will go a long way in facilitating the appetite of the rapidly changing media industry that is creating perceptions through content than ever before," Kuber said.
The e-commerce firm has achieved the distinction of being ahead of the curve to provide a combination of monitoring services across the media spectrum on a single platform to large & mid-size firms and media professionals on the move that include the form of apps on smartphones, the statement said.
In 2015, media market in India across print, electronic and digital was estimated at Rs 88,000 crore and growing at an annual growth of 8 per cent, 13 per cent and 44 per cent rate, respectively, it added.