eVentures invests Rs 50 cr in 4 Net companies

eVentures invests Rs 50 cr in 4 Net companies
ENS ECONOMIC BUREAU

MUMBAI, MARCH 18: eVentures India, a Softbank-ePartners alliance, has invested close to $ 11.5 million (around Rs 50 crore) in four internet ventures taking its total investments in India to eight. It has invested $ 3.3 million in CustomerAsset.com, $ 2.2 million in clubgreetings.com, $ 2 million in Indiahoy, and $ 4 million in Netmagic along with leading Silicon Valley angels.

CustomerAsset.com offers services like customer service call centers, e-mail help desks, web chat and telemarketing. The offering will be upgraded to value-added services like data management and customer relationship management. Indiahoy is a travel and leisure portal.

Electronic greetings website clubgreetings.com, founded by 26-year-old Jay Zaveri, has been online since May 1999. The site has a design range spanning 3000 cards for festivals and other occasions. Zaveri has created and buit popular sites like contest2win.com and 73coffees.com.

Netmagic is an internet infrastructure company founded by technocrat Sharad Sanghi, consultant to many internet service providers. The company will address issues like internet congestion. Apart from eVentures, other investors in the firm are B V Jagadessh of Exodus Communications, Kanwal Rekhi and Sivan Securities.