1. US venture fund invests $15 million in Indian IT firm

    Bangalore, Feb 15: Leading US venture fund Norwest Venture Partners has invested $15 million (Rs.74 crore) in Manthan Systems for an unspecified equity stake in the Bangalore-based business intelligence and analytics solutions provider, the company said Wednesday.
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      Bollywood, Gaming, Maps/Local, Mobile, Outsourcing, Social Networking, Telecom, Travel, Video
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      Acquisition, Funding
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    1. We plan to use this third (C) round of funding to help retailers gain advantage over competition by unveiling slew of products and exploring acquisitions for leveraging our domain expertise in BI (business intelligence) and analytics.
    2. As markets face tough times worldwide, retailers are opting for data security by harnessing and profiting from analytics to take faster decisions. While reliance on analytics is an evolving market phenomenon, retailers the world over are taking steps towards securing their aisles.
    3. In a market that demands quick decision-making, Manthan's suite of products is poised to make a significant impact on global retail. Funding Manthan reinforces our belief in the next generation business analytics sector as shown through our investments in companies like 1010data and The Retail Equation (TRE).
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