Canvera Digital Technologies Pvt Ltd was able to raise about US$6.5 million in Series B round of funding from other sources at a time when known venture capitalists are leaving the market. The company was able to raise the funding from Info Edge (India). Info Edge (India) operates known portals such as Naukri.com and invests in many other digital media properties.
Overall, Canvera was able to raise nearly US$13 million or Rs 70 crore with other funding from other known venture capitalists such as DFJ, Footprint Ventures and Mumbai Angels. These accumulated funds would be used to expand sales and marketing operations as well as provide new hosting solutions for its core clientele, the photographers and photography enthusiasts.
Canvera holds office at Bangalore and has regional offices throughout India such as in Chandigarh, Delhi, Kolkata, Chennai, Hyderabad, Ahmedabad and Mumbai. Its current employee base is 550 and would be hiring a hundred more individuals to beef up its staff complement towards the end of 2013.
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