Credit Suisse Asset Management’s NEXT Investors has invested in Sapience Analytics Pvt Ltd, while healthcare services startup CallHealth Services has raised $6.2 million led by former Indian cricketer Sachin Tendulkar.
Credit Suisse’s fund invests in Sapience Analytics
With NEXT Investors taking majority stake in the company, the deal has provided a profitable exit to Sapience’s existing investors including Indian Angel Network, Sapience CEO and Co-founder Shirish Deodhar told DEALSTREETASIA.
Subsequent to this deal, apart from NEXT Investors the remaining stake in the company would be with the promoters and employees of Sapience.
Through this deal, the Sapiences will shift its headquarters to the US, however a large part of its work will still be carried out of India. The company plans to use the funds raised to to penetrate further in the US and Europe market, and strengthen its senior management team.
Prior to the this latest investment in 2014, Sapience Analytics raised about $7 million in its Series B round from Orios Venture Partners. Before that in in 2011, it had raised an investment of about $704,000 in a Series A funding round from Seed Ventures. The company also received about $350,000 from Indian Angel Network in which Rehan Yar Khan, founder of Orios Venture Partners, ace investors Rajan Anandan and Harish Mehta had participated.
CallHealth raises $6.2m from Indian sportspersons, others
According to a filing with the Ministry of Corporate Affairs dated June, Sachin Tendulkar invested Rs 12 crore while India’s top female badminton player PV Sindhu, and former badminton player Pullela Gopichand put in Rs 4 crore each. Gopichand is an existing investor in the company.
The Hyderabad-based IT services company Tetra Soft India invested Rs 8 crore while and Bijman Projects Pvt. Ltd invested Rs 10 crore, among others, said the news report quoting the ROC documents.
The company, which was founded by Sandhya Raju, daughter of Ramco group chairman PR Venketrama Raja, had earlier raised Rs 57.52 crore from Telugu film actors Chiranjeevi Konidela, Nagarjuna Akkineni and Allu Arjun, among others last year.
CallHealth was reportedly in talks in talks with global private equity funds to raise Rs 200 crore.