Start-up deals of the day

Knowlarity acquires Smartwards; Locus raises $2.75 million from Exfinity Venture Partners

Knowlarity Communications acquires customer engagement start-up Smartwards

Cloud telephony start-up Knowlarity Communications Pvt. Ltd has acquired Smartwards Services Pvt. Ltd, a Gurgaon-based start-up that helps small businesses with loyalty programmes. The founders of Smartwards, Shantanu Mathur and Dhanraj Singh Bisht, will now lead the India operations of Knowlarity. This is the second acquisition by Knowlarity, which employs about 450 people and has so far raised about $22.5 million from investors Sequoia Capital and Mayfield Fund since it started in 2009. Read more

Locus raises $2.75 million from Exfinity Venture Partners and others

Logistics management company MARA Labs Inc., which operates as Locus, has raised $2.7 5million in Series A funding led by Exfinity Venture Partners with participation from Blume Ventures, BeeNext and Rajesh Ranavat, managing director of Fung Capital). Locus will use the funds to strengthen its technology offerings and expand its team. Read more

Angel groups invest 3 crore in TOKO Innovation

Bengaluru-based TOKO Innovation Studios Pvt. Ltd, which creates games, toys and other digital entertainment products for children, raised 3 crore from individual (angel) investor groups, Indian Angel Network (IAN) and Rajasthan Angel Investor Network. The company founded in 2014 by Aditya Mukherjee, Arnav Mukherjee and Ajitsen Surendran is looking to use the funds for product development, user growth and content partnerships.