PE Fund Investments
Control products maker Sedemac attracts $100-M; Nexus, other early investors exit
Sedemac Mechatronics , a Mumbai-based maker of innovative control products for manufacturing lines, has attracted USD 100 million led by Xponentia Capital Partners, A91 Partners and 360 ONE Asset. The substantially secondary transaction led to the full exit of Nexus Venture Partners, TR Capital and Montane Ventures. The primary component saw the infusion of USD 9 million into the company at an equity valuation of USD 260 million.Founded by Professor Shashikanth Suryanarayanan and his students in a lab at IIT Bombay in 2007-08, Sedemac currently supplies millions of controllers each year from its facilities in Pune to the 2 & 3-wheeler (ICE & EV), Generator and e-Bike markets.
Starting May-2010 Sedemac Mechatronics had raised funding from VC investors including India Innovation Fund, Nexus Venture Partners, Nandan Nilekani, TR Capital, Iron Pillar and Raintree Ventures
Want to receive such news items in your inbox? Click Here to sign up for a trial.
