After InMobi, another well capitalised startup is cutting jobs. But niche early stage ventures continue to attract investor attention. So another busy day on deal street- here are the top 3 developments from the startup world.
- Auto portal CarDekho's parent GirnarSoft is laying off around 60 staffers.
The company claims that the move will help in streamlining operations to focus on core areas. GirnarSoft CEO Amit Jain says there won’t be mass layoff and that the company will have a 3,500 employee strong workforce by June end as against 3,000 in March.
Last week, GirnarSoft made its fifth acquisition in two years by acquiring emergency roadside assistance startup Help on Wheels.
- App-based daily tasks manager MagicX has raised USD 1 million in seed funding from Infosys co-founder Kris Gopalakrishnan and other investors.
The funds raised will be used for team expansion, marketing initiatives and upgrading the technology platform. MagicX has racked up 100,000 downloads since it was launched in February. Manipal education CEO Ranjan Pai and Sify co-founder Ramaraj were among the other investors in this round.
- Anil Kapoor has also been stuck by the startup bug.
The bollywood actor has invested an undisclosed amount in California based video social network indi.com.
With this investment, the four-year old startup is venturing into the Indian market. Indi allows artists, celebrities and individuals to interact with fans through its video based platform.
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