Indian entrepreneurs, innovators and start-ups in general continue to be investor darlings, with near daily reports of new fund infusions across a variety of ventures.
Today Pune-based social network platform Function Space, a newbie in the start-up space, announced itraised an undisclosed amount from Nexus Venture Partners.
Function Space, founded by Adit Gupta, Sakshi Majumdar and Sumit Maniyar, in April 2013, serves as a ‘Facebook for Science’, allowing science and maths students, researchers and professors from around the world to collaborate and share their theories and problems. The content is verified by experts from institutions like Massachusetts Institute of Technology, Stanford and the IITs, among others.
Naren Gupta, co-founder & MD of Nexus Venture Partners,said in a release: “Function Space serves a crying need to make Mathematics and Sciences fun and engaging. We are thrilled to work with the founding team that is committed to exposing the beauty and usefulness of STEM (Science, Technology and Mathematics) to experts and non-experts alike.”
Function Space said the funding will help it expand content, develop engaging tools, and aggressively expand its contributor and user base.
India is increasingly being seen as a startup destination. So far in 2014, there have been 37 VC deals worth $120 million, according to VentureIntelligence, a research servicefocusedon private equity, venture capital and M&AinIndia. Last year, a total of 144 VC deals took place, amounting to $334 million.


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