India: Engineering firm Onward Tech to raise $9.6m from PE investor Convergent Finance

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Digital and engineering services company Onward Technologies Ltd on Thursday said its board has considered and approved raising Rs70.2 crore from funds advised by Convergent Finance LLP, a private equity investment firm founded by former Fairfax India head Harsha Raghavan.

Onward Tech is a niche digital and engineering services company which provides mechanical engineering, electronics and embedded systems development, data analytics and digital transformation, robotic business process automation and enterprise business application support services to global corporations. The company has a team of 2,000 full-time employees with offices in Mumbai, Pune, Chennai, Bengaluru in India and Chicago, Troy, Cleveland in the US, London, and Frankfurt.

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