Excl: AngelPrime backs mobile POS payment company Ezetap

Bangalore-based startup Ezetap, focusing on the mobile payments market in Asia, has recently raised undisclosed angel funding from AngelPrime, an early-stage investment firm.  The startup is providing architecture and building a disruptive mobile payments model with financial grade security system.

Although the quantum of funding could not be immediately ascertained, given the investment strategy of AngelPrime, it should be in the range of Rs 1-4 crore.

AngelPrime declined to comment to VCCircle, while Ezetap could not be reached.

AngelPrime, a start-up incubator launched by serial entrepreneurs Shripati Acharya, Bala Parthasarathy and Sanjay Swamy, was launched last year after raising a round of capital from unnamed marquee investors.

As a part of the investment, Sanjay Swamy, Shripati Acharya and Bala Parthasarathy from AngelPrime have joined the Ezetap board.

Ezetap, a mobile point-of-sales payment company, describes its team as "As an experienced team of professionals who are dedicated to improving the way people and businesses get paid in India. We want to improve the experience of those who already transact electronically while making it much simpler for others to start. Our hardware, software, and services are all designed, manufactured, and developed in India."

It was founded by Abhijit Bose, Bhakta Kesavachar and Satheesh Babu Vattekkat last year.

An alumnus of Harvard Business School and Cornell University, Bose has worked for Condor SA (Switzerland), Elma Electronic Inc, Siebel Systems, Oracle Corporation, JiGrahak Mobility Solutions and Intuit. Kesavachar, an MS in Wireless Communication, Computer Architecture, from Arizona State University, has also worked with Sharp Laboratories of America, Intel and Antargata Infotech. A product of the National Institute of Technology Calicut, Vattekkat has earlier worked with CMC, Infosys, Rapidigm Inc, The Nature Conservancy and IBM.

A couple of months back, e-commerce startup Unamia , which deals with kidswear, hadraised undisclosed amount in angel funding from AngelPrime.

(Edited by Prem Udayabhanu)