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Bangalore’s EduTech Co Gets $2.25M funding From NEA-IndoUS Ventures

20 August, 2008

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Bangalore-based Idenizen Smartware Pvt Ltd, a technology solutions provider for the education vertical, has received venture capital funding of $2.25 million (Rs 9 crore) from NEA-IndoUS Ventures. The firm’s flagship product,SmartCampus, helps integrate all key activities of an institute on to a single, integrated software-enabled platform – from administration to student and faculty activities inclusive of registration, course administration, attendance, library automation, examinations etc. The funding will be used to expand SmartCampus’s reach and service to educational campuses and institutions nationwide. The firm has so far made 100 such installations and claims to address all major needs of students, staff, parents, institution and management.

“This investment would help Idenizen, in its own small way, to play a critical role in takingIndia’s educational standards to international levels,” said Girish Baliga, Founder and CEO. The company has charted plans to expand aggressively across the country, by setting up new offices, increasing sales and operations depth and forging strategic partnerships. Part of the funds will also be used to strengthen the firms product offerings.

Kumar Shiralagi, Managing Director, NEA-IndoUS Ventures, said that Idenizen’s fast track growth and the rich depth and breadth of its product suite and added that SmartCampus is an innovative product tailor-made for efficient campus management.

NEA-IndoUS Ventures is promoted by Silicon Valley entrepreneurs Vinod Dham and Vani Kola in partnership with New Enterprise Associates. The fund had raised $189 million. This investment will take the portfolio companies of NEA-IndoUS Ventures to 10. Earlier this year the find had invested $2.5 million in Bay Talkitec, a Chennai-based company specialising in media convergence solutions and wireless network. NEA-IndoUS Ventures, along with JAFCO Asia and BTS India Fund had also invested $10 million in Mumbai-based Microqual Techno Private Ltd. It has also invested $3 million in Minekey, an online content discovery and recommendation services company.

 


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Bangalore’s EduTech Co Gets $2.25M funding From NEA-IndoUS Ventures

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