SBB Ventures Pvt Ltd, which runs a crowdsourced movie review and online entertainment analytics platform Clapsnslaps.com, has raised Rs 1 crore ($150,000) in its second round of angel investment from a Mumbai-based production house R M Picture Company Pvt. Ltd.
The company will use the money to upgrade its technological infrastructure and boost its operations. A part of the money will also be spent for hiring.
"We intend to launch new offerings which will be industry's first," said the company’s founder and CEO Pravin Shah.
An alumnus of Raheja School of Arts, Shah is also CEO of Six Inches Communication Pvt Ltd, which he had launched in January 2003. Six Inches, an integrated brand communications agency, handles brand launches and positioning, advertising, events and TV commercials.
Started two years ago, Clapsnslaps claims that it has more than 10,000 registered users, over 70,000 monthly unique visitors and more than 130,000 monthly page views.
The movie review space has players like Desi Martini and Now Running besides various digital entertainment portals and Indian editions of Amazon-owned IMDB and Yahoo's entertainment sections.
"I am a movie lover and I was impressed by the innovative approach of Clapsnslaps rating platform," said Manish Trehan, who runs R M Picture Company.
As a film producer, Trehan has over two decades experience in the entertainment industry. Besides feature and short films, he has produced many television commercials for firms such P&G, Cipla, Ford and American Express.
Radix Capital Advisors, a newly founded boutique investment bank, was financial advisor for the transaction.
Earlier, Clapsnslaps had raised Rs 1 crore from an undisclosed investor in its first angel funding round.