Allygrow Technologies, a Pune, India-based engineering services company, raised $20m in funding.
The round was led by Zodius Technology Fund with participation from IT industry veteran Atul Nishar and Allygrow founder Prashant Kamat.
The company intends to use the funds to set up its operating infrastructure, build a global team and make strategic acquisitions.
Led by founder and CEO Prashant Kamat, who brings over 20 years of new product development and business management experience in the engineering space, Allygrow will serve industries such as aerospace, automotive, hi-tech, heavy industries, and medical devices amongst others.
According to a note, Allygrow aims to “leverage the huge opportunity with its competencies and focus in the engineering services domain.
“It plans to invest significantly in applied R&D, developing tools and sub-systems to bolster its capabilities in embedded and connected electronics, both hardware and software“.
FinSMEs
11/08/2015