Asia’s leading venture lending debt firm InnoVen Capital has closed a deal valued $6 million (about 40 Crore INR) with Ed-tech and E-Learning service provider Simplilearn Solutions and also cloud-based customer analytics marketing platform Capillary Technologies. These two companies use the funds to enlarge their business in South East Asia as reported in TOI.
InnoVen Capital started in India in 2008 and bought by Temasek Holdings and UOB Group in 2015 currently has investor commitments worth US $200 million. In India, InnoVen Capital is positioned as the first and largest venture debt provider to venture capital backed start-ups in India across stages of growth and sectors.
Capillary Technologies started its operations in 2008 and is headquartered in Bangalore and has offices in Australia and South Africa. It is a cloud-based retail customer engagement and loyalty solution provider with focus on strengthening customer engagement directly on the sales floor.
Simplilearn was founded in September 2009 and is a destination for certification training courses. The company caters to professionals across industries and functions. It is fourth fastest growing Ed-Tech firm in India and the eleventh in Asia. The company has trained over 400,000+ professionals across 150+ countries.
Ajay, CEO (India), of InnoVen said “InnoVen capital is a supporter of evolving entrepreneurs of India and South Asia as most of them are looking outside markets closely and have global ambitions. InnoVen team will helps their clients to access growth capital globally” to Inc42.
The startups are sharing the funds equally, that is $3 million. The fundings will be used to expand the business of Capillary Technologies and Simplilearn Solutions in Southeast Asia.