In a move that would encourage small companies transcend their home boundaries into the global market, Mumbai-based venture debt fund InnoVen Capital has extended loans worth $6 million to Capillary Technologies and Simplilearn Solutions.
It is keeping in mind the holistic solutions concerning the global operations and resulting financing needs that these structured debt deals are made.
Ajay Hattangdi, Group COO and CEO India, InnoVen Capital commented, “Many of these companies are looking beyond their home markets as they advance on global ambitions. InnoVen’s unified venture debt platform, which is integrated across our regional teams, helps clients to access growth capital globally.”
Founded in August 2008 by IIT Kharagpur alumni Aneesh Reddy and Krishna Mehra, Capillary Technologies is presently registered in Singapore. It is an omnichannel engagement and commerce solution company, with a stronghold in India, Southeast Asia, MENA, and China among other countries.
It is into cloud-based software solution that helps retailers engage with customers through mobile, social, and in-store channels. The company caters primarily to clients in the retail market. It has partnered with on-site customer engagement suite WebEngage and as a part of the deal it has picked up an undisclosed minority stake in it.
Founded in 2009 by Krishna Kumar, Bangalore-based Simplilearn Solution is an online professional certification platform that offers multitude of training and IT certifications in areas like advanced cloud computing and Six Sigma, through a combination of online classes and in-person workshops.
Started in 2008, InnoVen Capital, is backed by top-tier venture capital and private equity investors. Formerly known as SVB India Finance, it was rebranded as a result of being acquired by Taiwan-based Temasek Holdings in 2015. The fund has disbursed over 115 loans to more than 80 early and mid-growth stage startups, including Byju’s, Snapdeal, Freecharge, Myntra, Practo, Portea, Voonik, etc.