| |
Manthan Systems Secures $15M Investment
In India, Bangalore-based Manthan Systems, which develops business intelligence and analytics for the retail and consumer packaged goods industries, has raised $15m in Series B funding.
Manthan Systems develops and markets a range of software products for global retailers, including merchandising analytics, customer analytics and supplier collaboration analytics.
The firm offers services to more than 40 retailers in verticals such as food and grocery, fashion and lifestyle, convenience stores, and speciality and mass merchandising outlets.
It also provides retailers with the tools they need to measure performance, and understand the relationships between customer groups, products, promotions and multiple channels.
Founder and CEO Atul Jalan commented: 'We believe Manthan is uniquely positioned to deliver the analytical maturity and edge that most retailers are aspiring to. Our confidence stems from our products' capabilities and our unique deployment model that delivers on industry leading ROI, and is reinforced by the market traction we are experiencing today.'
The investment is led by venture capital firm Fidelity International, along with existing investors IDG Ventures India and DFJ ePlanet Ventures. Funds will be used to augment sales across key markets and scale products.
As part of the deal, FIL Capital Advisors India MD Raj Dugar has also joined Manthan's Board.
Earlier in the year, Manthan Systems appointed Paul Gaddes as SVP - Strategic Relationships (SEA), to drive 'go to market' initiatives and new customer acquisitions across South East Asia.
Web site: www.manthansystems.com .
|
