Internet incubator and investor Netprice.com Inc is planning to invest in a handful of web and mobile startups in India this year, according to Reuters.
Netprice president and Chief Executive Officer (CEO) Teruhide Sato said the firm is planning to back three or four startups in 2014 with an amount between $500,000 and $4 million, The Economic Times reported. Sato, however, did not confirm if the company has already identified which startups they are planning to invest in, the report detailed.
Launched in Tokyo in 1999, the Netprice conglomerate was designed to facilitate commerce on the Internet. Based on its website, the firm has focused on e-commerce and distribution and has established a wide range of businesses. The group creates new e-commerce models and also engages in the incubation business. Netprice is currently incubating seven startups including Shop Airlines, Open Network Lab, and Defacto Standard Co, the report said.
Lately, Japanese incubators and investors have been setting their focus on India because of the large market and population there, Reuters reported.
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