Jumpstartup in funding talks with BCubed

Priya Srinivasan in Mumbai

Bangalore-based VC Firm Jumpstartup is in negotiation with BCubed, the latest venture by Rajesh Reddy, founder of Unimobile, for an investment into the company. BCubed, a company which is in the wireless space has been founded by Mr Reddy along with Mr Ashok Narasimhan who was earlier with Wipro. The company has operations both in the US and in India. The details of the venture are unavailable at this point.

While market sources say that the deal is almost closed, a senior Jumpstartup official when contacted said that Jumpstartup was in “active investment mode and looking at several companies in the wireless space at this point”.

He added that Jumpstartup had not made a commitment yet but was “speaking with a lot of people.”

Mr Reddy who operates both out of the US and India did not respond to an e-mail query by this paper.

Mr Reddy’s earlier venture, Unimobile, connects the Internet with wireless devices and has developed the world’s first Internet-to-wireless messaging gateway for Motorola’s page point services.
He is also on the board of advisors for several Indian technology startups, including two wireless technology companies.

Jumpstartup’s portfolio of companies includes Apnaloan.com, US based Jareva Technologies, NetKraft, QSupport.com and Smartcc, a payment solutions company.

Jumpstartup’s institutional investors include GE Capital, EDB Investments Singapore, FMO Netherlands, GIC Singapore and PPM Ventures, UK among others.