Softbank Ventures Korea invests in True Balance
New Delhi: SoftBank Ventures Korea, the venture capital arm of Japan’s SoftBank, has invested an undisclosed amount in True Balance, a mobile app that keeps users updated about their prepaid mobile account, the company said in a statement.
It will use the fund for product enhancement and expansion. Gurgaon-based Balance Hero Co. Ltd, which runs True Hero was founded in September 2014 by Korean origin entrepreneur Charlie (Cheolwon) Lee, who has been in India for almost a decade. The company provides services such as balance check, call log, data pack assessment, and recharge service for prepaid android smartphone users. It uses big data to give real-time information on plans and offers and helps users earn and recharge balance as well. Read more
Room On Call raises $2 million
Bengaluru: Room On Call, a budget accommodation aggregator run by Rooms Worldwide Private Limited (formerly Neocell Technologies India Limited), raised $2 million led by CASH ur DRIVE (CUD), the company said in a statement on Tuesday.
The funding will be used to market and strengthen operation in metros along with expanding presence in tier 2 and 3 cities and expanding size of the team.
“We aim to put together those non-star category under one brand and then standardize properties to give an unforgettable hospitality to our customers,” said Nirupma Dhawan, chief operating officer at Room on Call. The company, which has an inventory of over 8000 room nights every day and is present in 42 locations, aims to scale up operations to 150 locations and 20,000 rooms in India by the end of 2016.