The Aureos India Fund and ePlanet Ventures invested US$16m in Indian container logistics and warehouse management services company, Continental Warehousing Corporation Limited, part of the NDR Group.
The Aureos India Fund, a vehicle managed by Aureos Capital, a private equity company investing in small to mid-sized businesses in emerging markets, invested $10m in the company whereas ePlanet Ventures, venture capital and private equity firm based in Silicon Valley, invested $6m.
Continental Warehousing Corporation Limited manages container freight stations across India in Jawaharlal Nehru Port Trust, Chennai, Tuticorin and Indore, with a total annual capacity of 170,000 twenty-foot equivalent units, or standard containers. It also offers warehouse management solutions to retailers, telecom service providers and consumer durables industries through its wholly owned subsidiary Kaveri Warehousing Private Limited.
The company will use the proceeds to increase the number of container freight stations it operates and to extend its warehouse management solutions business to offer a “Port to store” service, including extensive transportation and cargo services.