Minglebox gets 7 million Dollar funding from Sequoia

Bangalore, May 2: Minglebox.com, India's leading social networking site for college communities and young professionals, today announced that Sequoia Capital India has committed an investment of US Dollar seven million for its product development and technology innovation.

Launched a few months ago, the portal, which offered innovative features for the Indian internet users, had logged two million messages, over a million people connections and hundreds of thousands of photos, videos and blogs generated and shared by users, company CEO Kavita Iyer said.

Speaking to newspersons here, she said the investment would enable Minglebox to establish its leadership in the Indian internet space by providing its users with innovative features like authentic college communities, streaming music jukebox, live chit chat and a high degree of personalisation and security. The funding would also pave way for extensive product development, technology innovation and expansion of market reach.

As part of this investment round, Mr R Ramaraj, part time venture partner and mentor in Sequoia, joined the board of Minglebox.

Mr Mohit Bhatnagar, Operating Partner of Sequoia, said the company invested in Minglebox as it had a '24 carat' team.

''We have invested in 35 odd such companies and for investment what we look for is an ideal team that is at the helm, market value and the product. The product developed by Minglebox is tailored for the Indian market,'' he said.

UNI