French early stage fund Kima Ventures makes its first Indian bet, invests $150,000 in Codelearn
Codelearn is an e-learning company which teaches programming by building applications than teaching syntax of a programming language. The company was founded by Hemanth Haridas and Ashish Sharma, both from different IITs, with previous startup experience.
“Kima has taken minority stake in Codelearn, which also happens to be its first investment in India,” reports The Times of India. Over the last two years, the company has backed more than 180 startups.
Founded by former technology journalist Jeremie Berrebi (Ex Editor, ZD Net France) and entrepreneur Xavier Niel, Kima Ventures is one of the most active early stage funding company around and has plans to invest in 100s of startups in the coming days.
Earlier this month, web based FriendCode, which allows coders to collaborate, raised $150,000 from Kima Ventures.
Much like Dave McClure’s 500Startups, Kima Ventures believes in what some call the “spray and pray,” approach to investing. The venture fund makes 1-2 investments every week. McClure has set up a $5 million micro fund called 500 StartupWallah to back nearly dozens of Indian startups in 2013.
Looks like there is going to be a bit of a slug fest between investors to gain access to good early stage deals this year.