VENTURE CAPITAL POST

Noida, India-based optimization software startup IntelloCut secured $200,000 (INR1.3 crore) in funding from a group of investors led by Blume Ventures and Google India's Ranjan Anandan.

India-based music streaming service Gaana.com added independent music portal Musicfellas.com for an undisclosed amount, with the latter's site to be shut down and its catalogue to be moved to Gaana.

Kolkata, India-based public sector enterprise Balmer Lawrie & Co Ltd bought Mumbai-based travel venture Vacations Exotica including its employees and customers from Vacations Exotica Destinations Pvt Ltd for an undisclosed sum.

Bangalore, India-based fashion portal Myntra confirmed that it raised $50 million in a new funding round led by Premji Invest, and decided not to pursue a merger with Indian e-commerce giant Flipkart.

Tokyo, Japan-based incubator and investment firm Netprice.com Inc is planning to invest $500,000 to $4 million in three or four mobile and web startups in India this year, according to The Economic Times.

MPC Synergy Real Estate, a private equity firm that formed a joint venture with Akme Projects, will be exiting its investments in the India- based firm, according to sources interviewed by The Economic Times.

The Morpheus, the first private startup accelerator in India, is shutting down its operations this week after six years of conducting accelerator programs for startups in the country, because of the fierce competition from its rivals.

India's Public Sector Undertaking (PSU) banks initiated a process to offload their shares in credit ratings agency CARE Ratings, according to sources knowledgeable on the situation.

Indian venture capital firm IDG Ventures and Canadian investor Ascent Capital picked up a minority stake in New Delhi-based software solutions provider Newgen Software Technologies for INR110 crore.

New York, US-based independent software corporation CA Tech invested an undisclosed amount with venture capital group IDG Ventures India in India-based enterprise software startups from October to December 2013.

India-based technology firm HCL has entered into the healthcare segment with an equity position in Bharat Family Clinic, causing a buzz in the sector, the Business Standard reported.

Bangalore, India-based online fashion retailer Myntra raised $50 million in funding as it got approached by e-commerce giants Amazon and Flipkart as the round closed.

Bangalore, India-based startup Lumos Design Technology made unbreakable waterproof bags with a built-in battery than can charge mobile gadgets with the use of solar power.

India-based e-commerce giant Flipkart is in talks to merge with online fashion retailer Myntra as part of a proposal being pushed by common investors Tiger Global and Accel Partners.

Ventureast Tenet Fund, together with angel investors, invested $3 million for the expansion of Bangalore, India-based medical device maker OneBreath into India, Eastern Europe, and Africa.