The global market for social networks and communities targeting researchers and scholars is getting more and more competitive.
Over the past months we saw multiple deals in the space, from Mendeley’s acquisition by Elsevier, over sizeable funding rounds for Academia.edu, Piazza and ResearchGate to new startups like MyScienceWork and Function Space.
Now Mumbai-based startup InvenZone, a platform for researchers and scholars to discover intellectual knowledge, has raised Angel funding from VentureNursery accelerator with participating angel investors Amit Patni, Anand Ladsariya, Arif Ali, Arihant Patni, Bharat Banka, Samir Shah, Neeraj Goenka, Ravi Kiran, Sanjay Mehta, Shravan Shroff, Vishal Maheshwari.
Further details of the funding round remain undisclosed.
InvenZone is one of the four startups chosen of 250 applications that graduated from VentureNursery’s fourth badge in March 2014.
Co-founders Vinay Kumar and Deekshith Marla launched the platform at IIT Bombay in 2013 and now aim to sign other renown institutions.
InvenZone claims to have built the product based on principles of advanced data mining and machine learning and has indexed a total of 23 million research papers equal 40% of the global database. It lets users search by keyword, does the weightage for the individual keyword and then searches the global database.
By doing so InvenZone wants to take the complexity out of searching for data, help make searches more efficient and ease the discovery of relevant data sets through its technology.
InvenZone is far from being alone in its ambitions to become the one-stop-shop for higher science education and research online. The vertical in higher education that InvenZone targets is a highly competitive one, both worldwide and in India itself.
On EDUKWEST we wrote about Academia.edu closing a $4.5 million funding round in December 2011 and Gates-backed Research Gate and its $20 million venture round in May and June 2013.
Also Indian startup Function Space raised a Seed Round from Nexus Venture Partners in April. In the same week Luxembourg-based MyScienceWork, the blog-turned-communication-platform for scientists, announced their $1.1 million Venture Round. And in late February 2014 Piazza, the social network for engineering students founded Pooja Sankar, disclosed their $8 million Series B and the launch of Piazza Careers.
Another younger competitor from India is Knimbus Online, also an online community that targets researchers. Knimbus raised an angel round of more than $500,000 from a group of six to seven business angels according to VCCircle.
- VentureNursery angels back networking platform for scholars and researchers InvenZone | VCCircle
- Network For Researchers & Scholars InvenZone Secures Angel Funding | NextBigWhat
- VentureNursery announces the four startups it backed in batch 4 | YourStory
- Academia.edu raises $4.5 Million for Researcher Social Network | EDUKWEST
- The Facebook for Scientists ResearchGate apparently raised $20 million | EDUKWEST
- Bill Gates took part in the $20 million ResearchGate Funding Round | EDUKWEST
- HEDLINE: Piazza launches Piazza Careers, announces $8 million Series B | EDUKWEST
- HEDLINE: Function Space raises Seed Round from Nexus Venture Partners | EDUKWEST
- HEDLINE: MyScienceWork raises $1.1 million Venture Round | EDUKWEST Europe
Picture “scientist-minifig” by Maia Weinstock, Some Rights Reserved