The funds raised will be used to expand customer base, add advanced features as desired by key customers, and undertake R&D.
Seed Enterprises is founded by Mitesh Bohra, Avinash Sethi and Siddharth Sethi and are entrepreneurs having previously co-founded InfoBeans Systems. Seed is a newly established fund with an objective to seek high-growth investment opportunities in software products in the emerging markets.
With this investment, Mitesh Bohra has joined the Board of Directors, and Avinash Sethi is now part of the executive management team as Chief Marketing Officer.
Founded in 2008, Pune based InnovizeTech Software provides software solutions to measure and analyze enterprise effort and time productivity analyses.
It has developed Sapience, which is a patent-pending and award-winning solution that powers a 15-20% increase in work output for companies, without requiring any change in existing process or additional management effort.
Last year in June, the company raised angel funding from Indian Angel Network.
Recently, Mumbai-based start-up Webklipper Technologies Pvt Ltd, which offers online surveys and feedback tools for e-commerce sites, vertical search sites and blogs, has raised its first round of funding from the Indian Angel Network, led by Google India chief Rajan Anandan.
IAN’s other investment includes Jigsee Inc, Span Across IT Solutions Pvt Ltd (TaxSpanner.com), COMPSKarmic Labs, Digilogue Communications, Kwench Library Solutions, Druvaa Software, Robhatah Robotic Solutions, Vienova Technology, AuthorGen Technologies, among others.
Source:http://www.dealcurry.com/20111130-InnovizeTech-Software-Raises-Rs4-5Cr-From-Seed-Enterprises.htm
