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ZoomIn.com raises Rs 8 crore from SVB India Finance

Online photo sharing, printing platform
ZoomIn.com has raised Rs 8 crore term loan from SVB India Finance,
a subsidiary of the Silicon Valley Bank.

Online photo sharing, printing platform
ZoomIn.com has raised Rs 8 crore term loan from SVB India Finance,
a subsidiary of the Silicon Valley Bank.

“We could have raised equity funds but did not want to
dilute stock,” said Sunny Balijepalli, the founder of ZoomIn.

The printing start-up has raised around $12 million in
venture funding in two rounds from First Round Capital and Sherpalo Ventures.

SVB India Finance typically disburses loans of $1-5 million
for a term of six months to three years. The firm has completed over 40
transactions since its launch in the country in 2008.

“The momentum has picked up this year. There is greater
awareness now among entrepreneurs about the value of such debt, which helps
them get funds without equity dilution. We look at innovative startups in any
sector. We have provided loans to startups in sectors ranging from
semi-conductors to food,” said Ajay Hattangdi, SVB India Finance’s
managing director.

In 2012, SVB India Finance has disbursed loans to firms like
Myntra, Onward Mobility, Mast Kalandar, Manthan Systems and Saankhya Labs.

Launched in 2008, ZoomIn.com enables customers to store,
share, and print their digital photos. It also delivers photo prints and
personalize gifts in India, the US, UK and Canada. 

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