Bangalore-based NextGen has raised undisclosed amount of funding from Mumbai Angels and a group of angel investors based in the Silicon Valley and India. Phanindra Sama of redBus led the deal for Mumbai Angels. Sama will join the board of NextGen along with other angel investor and retail veteran Bijou Kurien. Former Infosys executive Basab Pradhan and ex Ernst & Young national director Sunil Chandiramani also participated in this round.
NextGen will use the funds to acquire more customers, do R&D and partner with environmentally conscious companies.
NextGen, previously incubated at NSRCEL - IIM Bangalore, is a leading CSR & Sustainability Management company with Fortune 500 clients in 16 different sectors across 6 countries.
The Bangalore-based startup has developed India's first CSR & Sustainability Management IT Tool called P3 - People.Planet.Profit, jointly with Mindtree. This tool helps in management of development capital while also measuring the impact.
Founded by BITS Pilani and IIM-Bangalore alumni Abhishek Humbad and Richa Bajpai. They founded NextGen in 2008 and make business plans for companies on how to reduce their carbon footprints. Humbad is also a consultant on waste and emission management to companies including Intel and Infosys.
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