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2 Million Cash Injection for Indian Analytics Firm
Technology funding firm, IDG Ventures India, has invested $2 million dollars in Bangalore-based retail analytics specialist, Manthan Systems.
IDG Ventures India MD, Sudhir Sethi, will join Manthan's Board of Directors, which is led by Atul Jalan who comments: 'Our $2 million raised from IDG Ventures will be utilised to build the sales and product development teams, with a view to rapidly tapping in to this large global opportunity in the business analytics arena. We expect to add over 100 people to the company in sales, marketing and development in 2007.'
Manthan's two main products are: ARC – its retail data and retail analysis business intelligence solution; and Astra – which uses scorecarding, benchmarking, comparisons, and root cause analysis to align action at store level with organisational strategy and initiatives.
The IDG portfolio comprises market research, publications and conferences across Asia and the United States.
Both firms are online at: www.manthansystems.com and www.idgventures.com
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