(22 November 2007 7:25 pm)

MUMBAI: Capital18, the venture capital and private equity arm of Network18, has invested in Webchutney which is a interactive marketing and technology service agency in India.

Webchutney aims to leverage the funding for scaling up operations and fuelling growth.

Capital18 MD Sarbvir Singh said," This investment made sound sense to us because Webchutney has been one of the most successful and consistently growing agencies in the Indian digital space. With its robust client portfolio and full service model, Capital18 recognises the immense potential that the agency possesses."

Said Webchutney CEO and co-founder Sidharth Rao, "With this investment, we can continue to operate independently in an environment where digital agencies face an increasing pressure to align themselves with established networks."