Private Equity

PE-VC Fund Investments

Kedaara Capital invests $240-M in life sciences-focused tech co. Axtria

Mint   Axtria  

Mumbai-based private equity firm Kedaara Capital has invested USD 240 million in Gurugram- and New Jersey, NJ (USA)-based life sciences vertical focused tech company Axtria . The transaction consists of a secondary component to provide early investors an exit as well as a company-sponsored share buyback.Founded in 2009 by Jaswinder Chadha and Navdeep Chadha (who earlier founded MarketRx that was acquired by Cognizant), Axtria provides cloud-based data analytics, software, and consulting services to the life sciences industry, focusing on helping pharmaceutical, biotechnology, and diagnostic companies improve their commercial operations and decision-making through AI and machine learning.Prior to the investment by Kedaara Capital, the company had last raised USD 150 million from Bain Capital Tech Opportunities in 2021, which valued the company at USD 850 million. The company was last valued at over USD 1 Billion in 2021.The investment in Axtria is Kedaara’s second investment in an AI and data analytics company. In January, it invested over USD 350 million in Impetus Technologies.

For FY24, Axtria had reported about INR 868 Cr in Operating Income and about INR 89 Cr in PAT .