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Accel-backed consultant ANSR raises Series B funding from Evolvence, Sistema Asia Fund
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ANSR Consulting India Pvt Ltd, which helps multinational firms set up global capability centres (GCCs), has raised $15 million (Rs 110 crore) from Sistema Asia Fund and Evolvence India Fund in its Series B round of funding. 

ANSR will use the capital to primarily identify new global locations for establishing GCCs across eastern Europe, the UAE (United Arab Emirates) and Canada. 

It will also deploy the money in artificial intelligence (AI)-led technology for products such as Talent500 and Workspace. 

ANSR expects to achieve its goal of 100 GCCs by the end of next year. 

“The GCC market segment is poised for rapid growth in the post-Covid era as companies across size, industry and locations are establishing global teams to accelerate their transformation into technology and data-driven businesses, “ said Lalit Ahuja, chief executive of ANSR which provides a suite of GCC products. 

“Evolvence is very excited to partner with ANSR especially as we explore opportunities to expand in the Middle East,” said Rohit Batra,  partner at Evolvence India Fund, who also joins the board of ANSR following the investment. 

ANSR claims to have set up more than 75 GCCs across industries till date. It has helped its GCCs hire over 75,000 full-time employees.  

ANSR also has strategic partnerships with IBM, Google Cloud, ServiceNow and TechStars to drive the development of capabilities at GCCs. 

The company, which also runs Bengaluru-based startup accelerator Kyron, had raised $9 million in its Series A round in 2015 led by venture capital fund Accel. 

Investors

Evolvence India Fund is sponsored by Dubai-based alternative investment firm Evolvence Capital and an affiliate of US-based New York Life Investment Management. 

It had hit the road for its third India-focused private equity fund-of-funds and co-investment platform last year. 

Last year, VCCircle reported Evolvence India Fund had invested in a med-tech distributor. It previously invested in companies such as Gland Pharma, Centurion Bank of Punjab, automotive components player RSB Group and real estate firm Emaar MGF Land. 

Sistema Asia Fund, a $50 million venture capital fund, was floated by Russian conglomerate Sistema JSFC in 2016. It primarily focuses on mid-stage investments. Its portfolio includes startups such as gourmet meat brand Licious, Faasos parent Rebel Foods and digital lender Lendingkart. 

Both Sistema Asia Fund and Evolvence India Fund along with others invested in Infra.Market last December, which is a business-to-business marketplace for real estate and construction materials. 

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