India Dealbook: NCR Corp sells part of ATM biz ; EPF backs 3 startups; SalesPro gets funding

Photo: Reuters

NCR Corporation has sold a part of its India ATM operations, while Education Catalyst Fund has committed $2.4 million to 3 education startups. Also, 37.37 North Capital has invested an undisclosed amount into SalesPro.

EPS acquires part of NCR Corp’s India ATM business

Mumbai-based payment system company Electronic Payment and Services Pvt. Ltd. (EPS) has acquired a part of the Indian ATM business of US-based NCR Corporation.

While the financial terms of the deal were not disclosed, US-based NCR Corporation has sold a portion of the assets of its ATM business in Kerala, Bihar, Jharkhand and Lakshadweep, according to an official statement.

Subsequent to the acquisition, EPS will be managing more than 11,000 ATMs in India on behalf of banks.

“The decision to sell a significant portion of assets aligns with our vision to focus on software-driven, hardware-enabled growth supported by end-to-end managed services,” said Navroze Dastur, managing director of NCR Corporation India.

NCR Corporation India mainly manufactures and sells ATMs as well as provides software solutions and customer support.

Education Catalyst Fund commits $2.4m to 3 education startups

Education Catalyst Fund, which is managed by Michael and Susan Dell Foundation-backed CBA Capital has committed a total investment of around Rs 15 crore ($2.4 million) in three startups.

The fund, which target pre-Series A, Series A and Series B equity rounds, has invested in early-stage Simulanis, Kopykitab and Buddy4Study, according to an official statement.

ECF invests out of a Rs 100 crores fund, whose investors include Michael & Susan Dell Foundation and Gray Matters Capital. ECF plans to back 15 startups from this fund.

VC firm 37.37 North Capital backs SalesPro

US and India-focussed  venture capital firm 37.37 North Capital has invested an undisclosed amount into Bengaluru-based SalesPro, according to an Inc42 report.

With this latest funding SalesPro, which offers customised market research and sales strategy, plans to expedite its expansion into North America and India. The company also recently opened its office in the US. It currently has presence in Canada, Mexico, Europe, the Middle East, Africa, Singapore, Australia, and India.

Launched in 2012 by Abhinav Sharma and Kejal Haria, SalesPro claims to provide customised support and solutions for business development and sales. The company helps its clients in studying market trends, analysing market opportunities and utilising them for business development and lead generation.

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