Software maker Capillary Technologies has raised about Rs 300 crore ($45 million) led by New York-based private equity firm Warburg Pincus...
Software maker Capillary Technologies has raised about Rs 300 crore ($45 million) led by New York-based private equity firm Warburg Pincus, signalling rising investor interest in enterprise technology startups that are growing at a fast clip and demonstrating global ambition.
The Bengaluru-based company has already used a significant portion of the funding to acquire two technology ventures digital commerce solution provider MartJack and machine learning startup Ruaha Labs. It has also picked up a minority stake in CloudCherry, a customer satisfaction management firm.
"The funding puts us on the path to being one of Asia's true product bellwethers," said Aneesh Reddy, chief executive officer of Capillary Technologies who cofounded the company along with Krishna Mehra and Ajay Modani in 2008.
The 31-year old, IIT-Kharagpur graduate, declined to discuss the financial details of the acquisitions made by his company which builds technology that helps retailers to engage with customers.
Abhay Deshpande, chief executive officer of MartJack whose 160 employees will move to Capillary termed the acquisition as one of the largest deals in the business enterprise space in India.
The funding deal in which existing investors Sequoia Capital and Norwest Ventures also participated has more than doubled the valuation of the company to about Rs 1,200 crore said a person familiar with the details of the transaction.
As per a report in Et retail...
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