Sequoia Capital, one of the most active risk capital investors in the country, has acquired a minority stake in Knowlarity, a Gurgaon-based company that offers cloud telephony-based solutions. This is the first investment in the cloud computing space in India for the PE firm that will invest 35 crores in the Indian start-up. Merisis Capital Advisors, a Mumbai based investment banking advisory firm, advised Knowlarity on the fund raise
Founded in 2009 by IIT- Kanpur graduates Ambarish Gupta and Pallav Pandey, Knowlarity provides voice and data communication services over the internet to companies and individuals in India and Indonesia.
With this round of investment, the start-up aims to expand services to other emerging markets, including Thailand and Brazil. “We built the company to deliver simple and useful telephony products to help other businesses, primarily in the SME segment,” said Gupta, who received his MBA from Carnegie Mellon University in 2007. Currently, the company has over 40,000 clients across diverse sectors that include major companies such as Pepsi and Procter & Gamble, as well as SME clients.
In India, Sequoia has so far invested in over 50 companies in sectors, including internet, mobile, outsourcing, consumer and healthcare. The companies the VC firm has invested in include Gurgaon-based start-up Bright Lifecare and Vasan Health Care that operates a chain of eye care clinics
Merisis Capital Advisors, exclusive advisors to Knowlarity, is an investment banking advisory firm, offering independent advisory services to emerging growth and mid-market corporate clients and family offices, on mergers and acquisitions as well as fund raising activities.