Via our sister site ContentSutra: This is the second venture investment in the Indian mobile commerce and payment space. Helion Venture Partners, the recently launched India-focused technology venture fund, has invested $2.2 million in JiGrahak Mobility Solutions, a Bangalore-based mobile commerce and payment company. Helion had recently launched a $140-million fund to invest in Indian startups. Ashish Gupta and Kanwaljit Singh, partners of Helion Ventures, would join the board of JiGrahak.
JiGrahak has a downloadable appliction called NGPay which can be used to make m-payments and transactions.
Last month, another Indian mobile payment startup PayMate had received $5 million-plus from Kleiner Perkins, Caufield & Byers and Sherpalo Ventures.
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