Narayana Murthy’s Catamaran invests in Innoviti

BENGALURU: Infosys co-founder N R Narayana Murthy’s private investment firm Catamaran Ventures and New India Investment Corporation, Canada, have together invested $5 million (Rs 31.5 crore) in Innoviti Payment Solutions.
Rajeev Agrawal, an IIT-Bombay alumnus, founded Innoviti in 2008. The venture is a lending marketplace that distributes over Rs 400 crore of loans to more than 10,000 SMEs across 20 cities annually.“We are planning rapid expansion in three areas: the B2B sector, the lenders on the platform, and the reach. We will also be looking to penetrate tier 2 and tier 3 cities,” said Agrawal.
Innoviti had in January raised $1.6 million (Rs 10 crore) from angel investors and watch and jewellery company Titan.
Catamaran Ventures, started in 2009, has previously invested in SKS Microfinance, Hector Beverages, which owns the Paper Boat brand, and e-commerce firm Yebhi.
TraxnLabs invests in ZenRadius
Bengaluru: Network hiring platform ZenRadius has received seed funding from TracxnLabs and Deepak Singh of Anzy Careers. The startup, founded by three IIT-Kharagpur alumni, plans to use the funds to hire more coders.
“Abhishek Goyal of Tracxn was excited about our idea. We are planning to hire 8-10 people and will launch new features by next month,” said Nitesh Mishra, founder of ZenRadius. Tracxn was started by investors from Sequoia Capital and Accel Partners, and tracks startups globally. It is backed by Flipkart founders Sachin Bansal and Binny Bansal. tnn