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PayMate Raises $9 Million

PayMate India, a mobile payment company, has closed its second round of investment at $9 million led by Mayfield Fund and participation from existing investors, Kleiner Perkins Caufield & Byers and Sherpalo Ventures. Nikhil Khattau of Mayfield will join the board of PayMate. In July 2006, Sherpalo Ventures and Kleiner Perkins Caufield & Byers invested $5 million in PayMate.