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Manthan Systems, a Bangalore-based company dealing with business intelligence and analytical solutions for the retail and consumer packaged goods industries, has received $2 million funding from venture capital firm DFJ ePlanet Ventures. Ayaz ul Haque, Director, DFJ ePlanet, has joined Manthan’s board of directors.

Manthan had announced a $2 million investment from IDG Ventures India in March 2007. IDG Venture's Sudhir Sethi is on the board of Manthan.

Manthan is founded by Atul Jalan, who is the CEO. The company develops and markets a suite of software products and services to retailers. The company essentially helps companies take business decisions in a data rich environment.

Founded in 1999, DFJ ePlanet Ventures is probably the first fund which followed a global model with offices in Asia, Europe and the US. The fund has made successful exits including Chinese search engine Baidu (Nasdaq listing), the VoIP company Skype (www.skype.com) (acquired by eBay in 2005 for $4.1 billion), Focus Media (the Chinese flat-screen delivery commercial advertiser that successfully exited on Nasdaq in 2005), among others.

Related:

IDG Ventures India Debuts With $2 Million Investment In Manthan Systems