VC Fund Investments
Payment solutions provider Innoviti raises Rs.35-Cr from existing investors
Bengaluru-based, IPO-bound payment solutions provider Innoviti Technologies has raised INR 35 crore (approx. USD 4 million) in two tranches from existing shareholders, including angel investor Ashutosh Joshi and venture capital firm Bessemer. Joshi led the round with INR 20 crore, Devi Construction LLP invested INR 5 crore while Bessemer invested INR 3.4 crore.Founded in 2002 by Rajeev Agrawal, the company enables merchants to accept payments and integrate real-time sales data into critical business processes. It claims to process over INR 80,000 crore of purchase volume annually from across 2,000 Indian cities and over 20,000 merchants.
Between March 2007 and Aug 2024, Innoviti Technologies had attracted about USD 103 M from Trifecta Debt Fund, Bessemer Ventures, Random Walk Solutions, Alumni Ventures, Catamaran, New India Investment Corporation, SBI FMO.
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