Capillary Tech raises $14m in funding as IT startup interest grows

Tags: IT
Software services provider startup Capillary Technologies Pvt Ltd said on Thursday it has raised $14 million in a fresh round of funding led by existing investors Sequoia Capital Partners Inc and Norwest Venture Partners.

Bangalore-based Capillary Tech sells services designed to help retailers manage customer data and online presence. It counts British retailer Marks and Spencer Group PLC, Yum! Brands Inc's KFC restaurant chain and French clothing brand Lacoste among customers.

The fresh round of funding, which comes on top of $17 million received in 2012, will be used to improve Capillary Tech's marketing and partnership platforms, the company said.

The funding comes amid growing interest in India's startups, offering niche technology products or services that traditional outsourcing companies don't offer, or can't offer at competitive rates. A large number of funds, including the likes of U.S.-based Accel Partners & Co, Lightspeed Venture Partners and Sequoia Capital, are chasing investment opportunities.

Venture capital funds invested around $190 million in early-stage tech firms in India last year, up by almost a quarter from 2012, according to Hong Kong-based Centre for Asia Private Equity Research Ltd.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Faith is the opium of the masses, so Indians get addicted

    India is a nation of 1.27 billion. Let that number sink in, with all its zeroes. That’s a lot of people.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

M S Swaminathan

Public good research in agriculture

Public good research in agriculture is designed to promote risk ...

Zehra Naqvi

To hell and back

Here is a book that makes you wish there were ...

Bubbles Sabharwal

When your real & reel life heroes are the same

ALL the world’s a stage and we all are merely ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture