Latest News | Allana Group Invests Rs 75 Cr in Iron Pillar Fund II
Get latest articles and stories on Latest News at LatestLY. Venture Capital fund Iron Pillar on Tuesday said Allana Group -- which is into export business of processed food products and agri commodities -- has invested Rs 75 crore in its Fund II which focuses on mid-stage technology start-ups.
New Delhi, Jul 6 (PTI) Venture Capital fund Iron Pillar on Tuesday said Allana Group -- which is into export business of processed food products and agri commodities -- has invested Rs 75 crore in its Fund II which focuses on mid-stage technology start-ups.
The fund will invest in mainly companies focussed in the cloud computing domain and help them scale up business globally, a partner of the venture capital fund said.
"We have an existing relationship with Adil and Allana Group through their investment in FreshToHome, where they have added significant value to the company in operations and international expansion. They have supported us in expanding footprint not only in India but in markets where they have a presence. We will continue to invest in cloud companies which are built from India for the world," Iron Pillar managing partner Anand Prasanna told PTI.
Iron Pillar invests in middle stage start-ups in their series B funding round onwards.
The portfolio company of Iron Pillar includes Servify, Uniphore etc.
Prasanna said Iron Pillar is looking forward to collaborating with more large Indian and global business groups which "can help our portfolio companies improve their operations and expand across the US, Middle East and Asia Pacific".
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)