D2M is understood to be bringing out a prototype of the wrist-worn device, which will save the last minute of buffered memory and send it wirelessly for editing and sharing the audio file.

Sachin Bansal, the co-founder and chief executive of Flipkart, told news provider TechCircle that the round of funding would be large considering it has already raised four rounds of funding.

Julep Beauty, a US-based beauty brand, has raised $10.3m in series B round from venture capital firms Andreessen Horowitz, which led the round, and Maveron, which was co-founded by Howard Schultz, coffee retailer Starbucks chief executive.

Online ordering platform EatStreet, started by Wisconsin graduates, receives $2m in a series A round from new and existing backers.

Alongside Amex Ventures in the round were Millard Drexler, chief executive of retailer J Crew, according to news provider New York Times.

Six co-founders, including Jon Flint, co-founder and general partner at Polaris, and inventor Robert Langer, professor and serial entrepreneur at MIT's Langer Labs Living Proof, launched Living Proof in 2004 to change how hair behaves using patented new molecules.

In March 2011, Living Proof, formerly known as Andora, raised $16m in its B round following a $9m A round in 2009, according to its regulatory filing.