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Mayfield, Nexus Invest 35.5 Crore In Sohanlal Commodity Management

By SiliconIndia | Tuesday, 29 March 2011, 05:12 Hrs

Bangalore: Mayfield India and Nexus Venture Partners have invested a total of

35.5 Crore in Delhi-based Sohanlal Commodity Management(SLCM). The funds will be used by the company for expansion to invest in IT and add further warehousing capacity. With this deal, Mayfield India's MD Nikhil Khattau has joined SLCM's board.
Founded by Sandeep Sabharwal, SLCM is focused on post-harvest agricultural solutions and provides warehouse management and procurement solutions to farmers, processors, traders, exchanges and to the Government across 70 locations and 12 states in India.

Its warehousing capacity exceeds 150,000 MT with warehousing space of over one million sq feet. It clients list includes companies Cargill, AWB, Adani, Jindal, Ruchi Soya, Louis Dreyfus, Glencore as a service provider with full alignment of interests. The company is accredited with MCX and National Spot Exchange.
Last year in June, Nexus had invested

10 Crore in the company. Nexus had earlier invested in organic farming firm Suminter India Organics.

Mayfield Fund started investing in India in 2006, and along with a dedicated India fund, raised in 2008, has made investments in companies like Bharat Matrimony, Fourcee, Centum Learning, Satya Paul, and Geodesic Techniques.

Nexus Venture Partners is a venture capital fund and has investments in companies across technology, media, consumer, business services, energy and agribusiness sectors. Nexus' portfolio includes Komli Media (Internet ad network), Suminter (Organic farming), Dlight (Solar Lights), DimDim (Open Source Web Conferencing), Mapmyindia (Digital Navigation), Deccan (Neutraceuticals) and Netmagic (Internet managed service provider).

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