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.