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IIMA's CIIE makes profitable exits from Guvi, Barrix, Transerve, Riskcovry

Business Line  

The Centre for Innovation, Incubation and Entrepreneurship (CIIE.CO), the startup incubator founded by IIM Ahmedabad, has announced profitable exits from four startups: Guvi, Barrix, Transerve and Riskcovry. Barrix Agro Sciences, developing pheromone-based pest control products, was acquired by Japan's Sumitomo Chemical's India unit, yielding a 5x return on IIMA-CIIE's investment. Location intelligence startup Transerve offered a 12x return for CIIE with its acquisition by Precisely, a global player in data integrity. IIMA-CIIE sold its stake in Riskcovry, a full-stack insurance distribution platform, to a wealth management company. IT firm HCL had acquired a majority stake in GuviI, a tech skills learning platform in vernacular languages. Both transactions yielded a 6x return each to IIMA-CIIE.