Bangalore-based IT services firm Avekshaa Technologies has raised about INR 3 crore ($500,000) from a clutch of investors, including Karnataka government's KITVEN fund and ex-Infosys CFO V Balakrishnan. The company, founded by former senior executives of Infosys, will use the funds to target the US market and develop technology. The company, currently valued at $8 million (about INR 48 crore) will also be entering the Australian market.
Avekshaa offers software modelling as a service and works with teams to optimise software during development. The company has 18 paying customers, including ICICI Lombard, IndusInd Bank, and HDFC. It expects $2 million (about INR 12 crore) in revenue this fiscal.
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.