Indian tech incubator BitChemy invests $6M in three startups -report

By VCPOST Staff Reporter

Jan 06, 2014 03:10 AM EST

Indian tech incubator BitChemy Ventures has invested $6 million in three incubatee firms in India and the US, according to a report by Yourstory. The report also said the startups are 3LOQ Labs, Cafyne Inc, and Altiux Innovations, wrote Deal Curry.

3LOQ Labs is a mobile marketing firm based in Hyderabad, India. The firm combines valuable Telco data that helps retailers understand the behavior of their buyers based on past action and other criteria, the report explained.

Bangalore-based Altiux assists multinational corporations (MNCs) and startups in joint IP development, new product introduction, prototyping, concept development, emerging market-focused solutions, and product re-engineering. The company specializes in developing next-gen products in the IT industry, the report detailed.

Cafyne is an American startup that helps businesses protect their brand by ensuring regulatory and policy compliance, the report stated.

BitChemy Ventures Pvt Ltd was incorporated in 2012. The firm also operates as a seed fund on top of being an incubator. The company operates in over 10 countries and 8 industries, Deal Curry reported.

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