Manthan, which has been operating for a decade, says its solutions help companies address analytics needs across the entire decision-making and action life cycle process. Its clients include McDonald’s, Game Group PLC, Abenson, Ecco, AdvanceRetail, Haggen, Kitchen Collection and Loblaw. The Bangalore-based firm also has offices in Singapore, Brazil, US, the UK and Philippines.
This will be Series D financing for the Bangalore-based company that had raised $15 million in the previous round in 2011 from Fidelity and Norwest.
The slow but steady revival of India’s economy along with the new government led by Prime Minister Narendra Modi that is perceived as business friendly, is seeing the country witnessing an upswing in the private equity investments. PE flows into India were at $3.01 billion, while exits accounted for $1.1 billion in the three month (July-September) period, marking the fifth consecutive quarter of growth in investments, PwC had said in a recent report.
Temasek has been on a deals spree in India and it recently bought 10% stake in Intas Pharma, and in October it had invested $82 million for an undisclosed stake in Devyani International, the Indian operator of KFC, Pizza Hut and Costa Coffee chains.
The Big Data space in India has several players that compete with Manthan.
Pune-based Altion Systems Pvt Ltd had recently raised an undisclosed amount in seed funding. In August, Mumbai-based Fractal Analytics raised an undisclosed amount from the world’s largest loyalty management firm Aimia. A year earlier, Fractal had raised $25 million from Boston-headquartered TA Associates.