wordpress blog stats
Connect with us

Hi, what are you looking for?

eYantra Raises $7.8 M In Series B From Argonaut

Update: Phani Narayanam, Founder, EYantra informs us that the company had bought back stake from Times Private Treaties last year.

Earlier (March 12, 2009): Hyderbad based merchandising and corporate gifting solution company eYantra Industries Ltd has raised $7.8 million in series B funding led by US based PE Argonaut Private Equity, reports Business Standard. The company plans to use some of the funds for three acquisitions: among them, Bangalore based Hourglass Essentials. eYantra had earlier acquired majority stake in Mumbai based loyalty and rewards management company Loylty Rewardz. We’ve contacted the company for more information.

The amount of stake sold to Argonaut has not been disclosed. eYantra had previously raised funds in October 2008: a Series A round of $3.1 million from Ventureast Proactive and Argonaut, for 18 percent stake in the company. Assuming that they have spent all of that, the burn rate is $197,750 per month. The company had said that then that it would utilize the funding to develop its consumer business at Foostor.com to make it into a B2C business. eYantra also owns a corporate gifting solutions portal called logoprint.in, which allows corporates to buy customized, company branded gifts for their employees.

In 2009 eYantra 250 employees strong and had recorded a turover of around Rs 350 million for the FY 2009. Besides Argonaut and Ventureast, Times Private BCCL also holds a minority stake eYantra.

Related:
eYantra Sells 18% Stake For $3.1 Million To Ventureast, Argonaut; To Develop Foostor.com

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

The Federation of All India Vyapar Mandal (FAIVM), a pan-India body of traders and retailers, has recommended that the government impose a tax of...

News

The Department for Promotion of Industry and Internal Trade (DPIIT) has forwarded complaints against Amazon and Flipkart, made by traders body Confederation of All...

News

The Competition Commission of India has sought information from sellers body AIOVA on the alleged preferential treatment that Amazon gives to certain large sellers,...

News

The Delhi High Court on Monday refused to stop Amazon from pushing regulators to stop the sale of the Future Group’s businesses to Reliance...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ