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The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

January - 2012 - issue > Venture Beat

Innovize Tech, ready to move ahead with a Rs. 4.5 Crore Series A Funding

ST Team
Monday, January 2, 2012
ST Team
Innovize Tech Software, a software product company, has raised 4.5 crore in Series A round of funding. The round was led by Seed Enterprises. As part of the investment, Directors of Seed Enterprises, Mithesh Bohra and Avinash Sethi, respectively joined the board and executive management team of the company respectively. Innovize Tech’s previous investment was by Indian Angel Network (IAN). The company plans to use the funds to further accelerate the growing customer base, add advanced features as desired by key customers, and undertake research and development for higher addition to Sapience (their award-winning product) users. The long term goal is to deliver ‘Big Data’ analytics of ‘Work Patterns’, thereby getting more work output, and simultaneously enabling employees to improve their work-life balance.

Co-Founded by serial entrepreneurs Shirish Deodhar, Madhukar Bhatia, Swati Deodhar, and Hemant Joshi, Innovize Tech Software is a new player in India’s emerging software product segment. "Today is an exciting day for the company. The new investment and addition of experienced executives are a validation of the market potential and business strategy of our product, Sapience. Our dream is to build a $100 million product company in India. We have the compelling business value, a team that can execute effectively, and unique technology, and now with Seed Enterprise in the mix we can surely make this happen," says Shirish Deodhar, Co-founder and CEO, Innovize Tech.

The company's client portfolio includes IDeaS, EnVenture Technologies, Zensar, KPIT Cummins, India Ops, Pubmatic, IxSignt Technologies, and Onward Technologies. The company was selected by Red Herring as a 2011 Asia Top 100 technology company, followed by recognition as the #1 Pune Startup and Top 10 India Startup by ET.

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