Bangalore: Manthan Systems, a Bangalore based analytics solutions provider would be losing out one of its major investors IDG Ventures sometime the next year.

Reported by indiatimes.com, IDG Ventures had invested $2 million in Manthan’s first round of funding in 2007 from its technology focused VC fund of $150 million. The former again participated in its series B funding along with Fidelity International and DFJ ePlanet Ventures. Manthan Systems also received $15 million in another investment from US-based Norwest Venture Partners, earlier this year.

"I know they have received some very good offers in the past two years. IDG also knows that the longer they stay, the better it is for them.VC firms typically exit in three to seven years,” said Atul Jalan, founder & CEO of Manthan. The company was founded in 2004 and is one of the few early entrants to hit this space. It has a good client list with over 80 clients in $1 to $20 billion range. Some of its prominent clients are McDonald's, Lowe's, Haggen, Sprout and Charming Charlie.

Manthan, in July had also announced one of its major orders from Singapore's Infocomm Development Authority. It gained immense popularity for its product, as it helps retailers to understand things like where to locate stores, how to lay out stores, which items to keep in each store and which items are best kept together.

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