GENWI raises $ Four Million in Series A Round of funding
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GENWI raises $ Four Million in Series A Round of funding
California: California-based GENWI, a cloud-based tablet and smartphone publishing platform, has raised $4 million in Series A funding from Nexus Venture Partners, reports TechCrunch. GENWI has raised $1.1 million in the past in seed funding from Investus Capital Partners and Quest Venture Partners. The additional capital will be used to build out the infrastructure and an extensive network of apps to offer more advanced monetization and features for distribution for publishers. It also plans to expand globally and develop a multi-lingual functionality. GENWI, which enables publishers to create and manage interactive, social, and live media apps on various platforms, was co-founded by PJ Gurumohan, Rahul Patel, and Raju Sagiraju. Gurumohan, the co-founder and CEO, holds a PhD and a Masters of Science from Arizona State, and owns two patents related to wireless networking. He developed the first version of GENWI MobilePresence publishing platform, prior to which, he developed a Social RSS reader, which was ranked as one of the top 10 RSS readers in the world. He was also a key member behind the development of Togetherville, and GluTV. Nexus Venture Partners, a Venture Capital fund, invests in early and early growth stage companies across sectors. It looks to partner with passionate and driven entrepreneurs, who address a customer need in the best way, and aspire to make market leader companies. Investus Capital Partners, a unique venture firm managed by successful entrepreneurs and has backed more than 100 companies with operations in the Silicon Valley and/or India. It backs entrepreneurs with particular interest in businesses which leverage consumer internet and media, software-as a service, mobile technology, and knowledge-based services, to address a variety of attractive end markets in India, and globally. California-based Quest Venture Partners invests in early stage companies with great ideas and invest between $ 100k-$1.5 million, with typical investments being around $500k.