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Software Firm IT Grids To Raise VC Funding

By : Deeshesh Chheda | 11 April 2011
Industry : Technology
Category : Venture Capital

Hyderabad-based software firm IT Grids (India) Pvt Ltd is planning to raise Rs.5 Cr venture capital funding for expansion of its 'Party Analyst' product.

Incorporated by Ashok Dakavaram in 2010, company offers technology consulting, domain consulting, application services, systems integration, custom software development, maintenance, reengineering and independent testing.

Transaction Reference: Business Standard


'Party Analyst' is a online election analysis and management platform which includes data sets providing election, demographic, geographic analysis, census, delimitations information on a single platform.

While the product is on a subscription basis for political parties, it is free for voters to connect and interact with their local leaders.

Former chairman and co-founder of MindTree Ltd, Ashok Soota, which recently launched it's IT services firm Happiest Minds Technologies Pvt Ltd is also looking to raise VC funding for the startup.

Some VC funding in the technology space this year.

Date Company Investor
5/4/2011 Nevales Network Seedfund
23/3/2011 Identis Pvt Ltd Hyderabad Angels
21/3/2011 Nogle Technologies Pvt Ltd Info Edge India Ltd
9/3/2011 Sokrati Inventus Capital Partners
14/2/2011 Jigsee Indian Angel Network

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KVEZAR VIEW

  DEAL TRACKER FOR
DateTransactionTypeBuyerSize ($mn)
11/04/11  IT Grids (India) - Fund Raising Venture Capital  Looking For  1.13 
 
  Recent Transactions In The Sector
DateTypeBuyerTargetSize ($mn)State
17/05/13   Venture Capital   Looking For   Heckyl Technologies Private Limited   -   Planned  
17/05/13   M&A   Aditi Technologies Private Limited   Get Cloud Ready Technology Consulting (India) Private Limited   -   Completed  
15/05/13   Venture Capital   Unknown Investor   PriceBaba   -   Completed  
14/05/13   Venture Capital   Tiger Global Management LLC   Caratlane Trading Private Limited   15.00   Completed  
 
  Profiles

Company

NamePromotersOfficeCompetitorWebsite
IT Grids (India) Private Limited  Ashok Dakavaram   Flat No 4B, HIG 90, Sri Sathya Sai Nivas, 6th Phase, KPHB     http://www.itgrids.com
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