AI-led Software Startup Infinnium Raises Seed Funds from Gujarat-based Sahajanand Group

Virginia, U.S. based and Indians-founded startup, Infinnium LLC, a 1-year-old software startup that develops solutions to improve information management and business decision-making through effective use of the latest artificial intelligence (AI) technology, announced today that it has raised "a multimillion-dollar" seed funding from Sahajanand Group, a Ahmedabad, Gujarat-based diversified group with three companies under its name.

Although based in the U.S., Infinnium too has its roots in Gujarat as all of its four co-founders -- Harsh Sutaria, Hari Pandya, Nirav Avaiya and Hitesh Zunzuwadia, are all based out of Gujarat.

The startup plans to use the funding to support the final development efforts and market introduction of its 4iG™ Suite of solutions. The 4iG product suite leverages AI technology to provide visibility across an organization’s data repositories, offering insights into both structured and unstructured data. The 4iG framework allows corporations, law firms and other organizations to identify, analyze and govern information assets in support of business decision-making, data security and regulatory compliance.

ObscurePI™, a key module of the 4iG Suite, focuses on identification and management of personally identifiable information – a key component of HIPAA, GDPR, CCPA, Sarbanes-Oxley, FISMA and other data privacy and compliance regulations.

The Sahajanand Group is focused on developing pioneering smart technologies to bring groundbreaking solutions to the world’s most pressing challenges. "The investment in Infinnium recognizes the potential for AI and other data technologies to address growing challenges in data privacy, data protection and regulatory compliance.", said the press release announcement.

Bhargav Kotadia, managing director, Sahajanand Group, "Globally organizations are facing exponential data growth, combined with increasing complexity in security and data privacy. Organizations are not well equipped to derive the financial benefits available from effective information governance, and they continue to face expensive penalties and loss of financial value as long as the IG technology gap exists."

“We have invested in Infinnium with a long-term outlook. We believe that Infinnium has the strategic vision and groundbreaking AI solutions to lead the coming transformation in information governance and data privacy,” he added.

Hari J. Pandya, co-founder and chief financial officer at Infinnium, said, "We formed Infinnium to address huge risk, cost and compliance issues in the information governance market space. There exists substantially underutilized financial potential for decision support from structured and unstructured, numeric and textual data. Organizations in pursuit of effective information governance are hindered by the huge scale of data, manual efforts, a shortage of knowledge and a lack of specialized technology."

"Infinnium is uniquely positioned to bridge those gaps with our sophisticated, simple and unified AI technology platform providing end users full control over information from diverse sources. We are pleased to have the Sahajanand Group endorse our vision and strategy, and we are excited to have them join hands with us with this vital funding," Pandya said.

Notably, Pandya, the Infinnium co-founder, also sits in board of directors of Samara Capital-backed Sahajanand Medical Technologies, one of three companies of Sahajanand Group, which develops and manufactures invasive coronary stent systems. Last year in January, Sahajanand Medical Technologies had raised Rs 230 crore in a funding round led by Morgan Stanley Private Equity Asia.

Samara Capital to Invest ₹ 200 Cr in Nature's Essence to Acquire A Significant Stake

Samara Capital, the leading mid-market buy-out private equity fund,
has entered into an agreement with Nature’s Essence Private Limited (“NEPL”)to
invest INR 200crs for a significant stake. NEPL will utilize the funds for
investment into marketing and distribution and consolidation of group entities.

NEPL along with its group entities
manufactures and markets a range of skin care products under the brand
“Nature’s Essence”. The product portfolio includes face care products such as
facial kits, bleaches, face-packs, face washes and body care products such as
creams, lotions and gels.

NEPL is based in Delhi and its
manufacturing facility is in Haridwar, Uttarakhand. The company’s products are
sold in over200,000 retail outlets and 40,000 salons through a pan India
distribution network. The company along with its group entities which are
getting consolidated generates a sales of INR 150crs and is growing at 15% p.a.

Abhishek Kabra, Managing
Director, Samara Capital said, “In recent times we have observed a whole
new demographic of consumers emerging for personal and skin care products, as
consumerism, aided by the information revolution and by purchasing power, seeps
into the hinterland. We felt Nature’s Essence under Mr Nanda’s leadership has
locked on very well on to this massive new market and its demands and tastes.
We see exciting potential for the brand to keep adding to the depth as well as
breadth of its offering.”

Commenting on the development, Raj
Kumar Nanda, Promoter& Director, NEPL said “Over the last 20 years,
Nature’s Essence has established itself as a leading brand in the fast-growing
Indian skin care market. With rising aspirations and affordability of the Indian
consumers the company and brand is perfectly positioned to further tap this
opportunity. I and my team are very excited to partner with Samara Capital to
take Nature’s Essence to its next phase of growth.”

Deloitte Touche Tohmatsu India and
Lymonds Mirus represented NEPL and Samara respectively for this transaction.

“We have had a long association with Mr. Nanda and see a high potential in the Nature’s Essence brand. Samara’s value add capabilities will provide exciting times ahead for the growth of this brand and for its stakeholders including employees and channel partners.”, said Ruchi Sarna, Partner, Deloitte Touche Tohmatsu India LLP.

Samara Capital is an entrepreneurially run India focused private equity firm since its inception in 2007. Samara has invested in companies spanning consumer products and retail, healthcare and pharma, business services, financials and infrastructure.