NEA-IndoUS Ventures (NEA-IUV), a venture capital firm investing in the early to mid stage in India, has invested $3 million in Gradatim IT Ventures India Pvt Ltd in a Series A round, according to a report in Microfinance Focus.
Bangalore-based Gradatim provides Business Process Utility (BPU) services to banking and insurance sector, especially in microfinance.
Gradatim’s clients include MFIs, NBFCs, and insurance providers. It is also operational overseas in Australia and Singapore.
NEA-IUV has made quite a few investments in 2008, while it was not so active in 2009. In November last year, the firm invested $5 million in Myntra.com, a platform for purchasing personalized products.
Prior to that, Connectiva Systems Inc., a leading provider of revenue and risk management solutions for the telecommunications industry, raised $17 million in a round of investment led by NEA-IUV, while the individual investment of NEA-IUV in the company is not known. Other investee companies of NEA-IUV are PreMedia Global Inc, Attero, Seventymm and Basiz Fund Services.