DealsandYoucom raises 17 million from Mayfield Norwest and others Indus and ELP advise

Daily Deal site, Dealsandyou.com has raised $17 million (Rs 84.11 crore) in its second round of funding. The investment was led by Mayfield Fund and Norwest Venture Partners. The other investors included Nokia Growth Partners and Intel Capital..IndusLaw advised the company and promoters. The team was led by Partner Avimukt Dar along with Senior Associate Manish Gaurav..Economic Laws Practice advised the lead investors with a team led by Partner Yashojit Mitra..According to VCCircle, the fresh fund will be used by Dealsandyou.com to rev up its focus on customers and also for technology and infrastructure development. On the technology front, the company will invest in mobility, ERP-CRM and Web-based technologies, as well as in IT infrastructure, which will improve customer service. It will also double its operational footprint from the current eight offices to 16 by June 2012..DealsandYou is a deal portal promoted by Smile Group (Harish Bahl), Gaurav Kachru and Tarun Sobhan. DealsandYou.com acquired online portal www.wanamo.com in June 2010 to enter the Indian marketplace & went live with the new brand in Aug 2010. The site features daily deals on the best things to do, see, eat, and buy in leading cities. It had earlier received a funding of $1.5 million from Group Buying Global AG, reports Dealcurry..Business-Standard reports, though the global economy is going through a rough patch, e-commerce sites in India are witnessing increased interest from VC firms. Last month, Valyoo Technologies that runs eyewear e-commerce site Lenskart.com, raised $4 million (Rs. 19.5 crore) in its first round of funding from IDG Ventures India. The company also runs e-commerce sites Watchkart.com and Bagskart.com.VC firm Helion Advisors invested an undisclosed amount in hoopos.com, a one-stop shop for mother care, baby and kids’ products..According to experts, with a growing number of internet users in India, the e-commerce space is likely to see more momentum. India has the third-largest internet user base in the world, behind China and the US, according to a recent study by the Internet & Mobile Association of India.