Manthan Systems, a provider of Business Intelligence and Analytical solutions for the retail and consumer packaged goods industries, has secured a $15m Series B financing.
The investment was led by Fidelity International with participation from existing investors IDG Ventures India and DFJ ePlanet Ventures.
In connection with the investment, Mr. Raj Dugar, Managing Director at FIL Capital Advisors (India), Fidelity International’s private equity advisory company in India, has joined Manthan’s board of directors.
The company develops and markets software products and synergistic services to global retailers enabling them to take data-driven business decisions. The funds will be used to accelerate growth by increasing sales and capitalizing on suitable inorganic opportunities.
Manthan Systems is headquartered in Bangalore and has offices in the USA and in the UK.