India: Marathon Edge to invest up to $10m in retail software platform Ginesys

Team Ginesys

Marathon Edge, the private equity fund floated by former Bain Capital principal Nikhil Raghavan, has agreed to invest up to $10 million in retail software platform Ginesys.

This investment will help Ginesys widen the scope and depth of solutions, which are developed for small and medium consumer brands and retailers, said a press statement.

“With our partnership with Marathon Edge, we now have substantial financial means to invest in technology and organization building, and make strategic acquisitions,” Prashant Lohia, founder and CEO of Ginesys, said.

While the financial terms of the transaction were not disclosed, Lohia said that the relationship with Marathon Edge is quasi-strategic in nature.

Ginesys, owned by Kolkata-based Ginni Systems Ltd, was founded in 2006 in Kolkata. It offers a complete suite of services including procurement, production, inventory, sales & distribution, retail management, point of sale, data analytics, finance and accounts, among others.

With over 20,000 users across retail and distribution clients, Ginesys claims to be a leader in point-of-sales (PoS) and enterprise resource planning (ERP). It counts retailers like Manyavar, Biba, House of Anita Dongre, V-Mart, Soch, and Bazaar Kolkata among its clients.

Ginesys will also use the capital to bring the best global solutions at an Indian price point, it said.

“Our customers operate in a complex and extremely dynamic environment. We are introducing exciting products to cater to the evolving needs of Indian retail, right from cloud POS to Omni channel and replenishment,” Lohia said.

Founded in 2018, Marathon Edge invests in technology, consumer and healthcare services companies. Its first disclosed investment was in BharatMatrimony of Rs 19.5 crore.