Goldman Sachs, NEA Invest In Nova Medical

Goldman Sachs and New Enterprise Associates have jointly invested about $54 Mn in GTI promoted – Nova Medical Centres Private Limited for minority stake. Goldman Sachs has invested $40 Mn, while NEA has made add-on investment of $14 Mn. The investments will be used to further expand the company's specialty surgery and fertility businesses.

Nova Medical Center was founded by New York-based private equity firm GTI Group LLC and Mahesh Reddy. Established in 2009, Nova develops, acquires, owns and operates day/short-stay surgical centers in partnership with surgeons across India and the Middle East. Nova raised $3.5Mn from GTI LLC in its initial round of funding and followed it up by further investments by New Enterprise Associates and GTI group. Nova raised $3.5Mn from GTI LLC in its initial round of funding and followed it up by further investments by New Enterprise Associates and GTI group.

Online Skill Assessor - Mettl Raises Series A Funds

Online skill assessment platform Mettl raised $4 Mn Series A round led by IndoUS Ventures and existing investors. The funds would be used to accelerate product development and with that IndoUS MD - Vani Kola will join the board of Mettl.

Recently IndoUS Venture Partners also provided first round of funds to another online firm Urbanladder.com earlier last week and its other e-commerce investments in India are Snapdeal and Myntra with a plan to invest $10 Mn in another online retailer Zivame in March this year along with IDG Ventures.

Mystery Shopping Firm RedQuanta Gets Seed Funds

RedQuanta secured a round of seed funding from various investors including India Quotient, Blume Ventures, India Venture Partners and other angel investors, Startupcentral reports. The amount of money received is undisclosed. India Quotient had commenced its debut fund in June this year and had listed RedQuanta in its portfolio at that time. The company had also joined The Morpheus VP Batch 3 in July 2009. RedQuanta was founded by Pankaj Guglani - an alumni of MDI Gurgaon and is backed by senior alumni/ investors from IIM’s. Guglani was earlier working with Zapak Digital Entertainment as the business head.

Accel Partners Invests In Mind Edutainment

Mind Edutainment Private Limited has raised R2.7 Cr from Accel Partners and group of angels led by Meena Ganesh - CEO & MD Pearson Education. The funds raised will be used to scale the initial pilot project of THOTS Lab from 3 cities to 8 cities and to integrate ICT in delivery process to create an ideal mix of ICT and Experiential Learning. Earlier, the company had received funding from the Department of Science and Technology and individual angel investors.

India Innovation Fund Invests In iKen Solutions

IIT Bombay research spin-off iKen Solutions has raised funds from India Innovation Fund. As a part of the deal, Ashwin Raguraman, VP, IIF will join the board of iKen Solutions as nominee.

Started in 2005 by Rajendra Sonar and Siddharth Goel, iKen specialize in Artificial Intelligence (expert system, case-based reasoning, neural networks and genetic algorithms) based Consumer Analytics for offering highly personalized end user experiences.

Recently, India Innovation Fund along with Blume Ventures invested in Pune based Shantani Proteome Analytics Private Limited, a research based biotechnology company.

PurpleStream Secures Investments From Mercatus Capital

Video content provider PurpleStream has received its first round of funding from Mercatus Capital and Hub Media Group. These funds are raised for the ‘Go to Market Strategy’ along with the global launch of PurpleCloud – broadband video delivery platform of PurpleStream. The company is also planning to shift it’s headquarter to Singapore from Chennai.

Nova Capital Advisors was the advisor to PurpleStream for the transaction. The investment will enable PurpleStream to leverage on Mercatus Capital for incubation and acceleration services out of Singapore and have access to global content providers through Hub Media Group.