How Much Did Innoviti Raise? Funding & Key Investors

Innoviti has successfully raised ₹350,000,000 in a recent Series Unknown round, with notable investors including Ashutosh Joshi and Bessemer Venture Partners. The company has also completed the first close of its pre-IPO round, raising Rs 40 crore from Alumni Ventures and initiating the second close of its Series E round with an additional INR 40 crore from Bessemer and Patni.

Keep reading to explore the intricacies of Innoviti's fundraising journey and the investors backing this innovative platform.

What Is Innoviti?

Innoviti, founded in December 2002, is headquartered in Bangalore, Karnataka, India. The company was established by Amrita Malik and Rajeev Agrawal.

Specializing in payment processing, credit distribution, and payment management software solutions, Innoviti serves a diverse range of markets including retail, mobile, lifestyle, and healthcare.

With a workforce of 501-1000 employees, Innoviti is recognized as India’s largest integrated payment technology provider, handling over Rs. 60,000 Cr. of sales annually.

How Much Funding Has Innoviti Raised?

1. Funding Round: Series C
   • Amount Raised: $5.6M
   • Date: March 2, 2021
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand operations and enhance technology.
2. Funding Round: Series D
   • Amount Raised: ₹800M
   • Date: January 4, 2022
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale up business operations and increase market reach.
3. Funding Round: Series D
   • Amount Raised: ₹750M
   • Date: May 26, 2022
   • Lead Investors: Alumni Ventures, FMO
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance distribution and strengthen technology capabilities.
4. Funding Round: Series D
   • Amount Raised: $25M
   • Date: July 8, 2022
   • Lead Investors: Panthera Growth Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand market presence and improve product offerings.
5. Funding Round: Series E
   • Amount Raised: ₹1.2B
   • Date: April 1, 2024
   • Lead Investors: Bessemer Venture Partners, Patni Family, Random Walk Solutions
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance technological infrastructure.
6. Funding Round: Venture Round
   • Amount Raised: ₹350M
   • Date: March 6, 2025
   • Lead Investors: Ashutosh Joshi
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support business expansion and technological advancements.

Total Amount Raised: $30.6M + ₹3.1B

Current Valuation: Not publicly disclosed

Key Investors

Here are some of the major investors in Innoviti:

• Ashutosh Joshi
  • Details: Ashutosh Joshi is one of the key investors in Innoviti. Specific details about his background are not provided.
  • Investment Focus Areas: Not specified.
  • Notable Investments: Not specified.
• Bessemer Venture Partners
  • Details: Bessemer Venture Partners is a prominent venture capital firm that has invested in Innoviti. Specific details about their involvement are not provided.
  • Investment Focus Areas: Not specified.
  • Notable Investments: Not specified.
• Patni Family
  • Details: The Patni Family is one of the investors in Innoviti. Specific details about their background are not provided.
  • Investment Focus Areas: Not specified.
  • Notable Investments: Not specified.
• Random Walk Solutions
  • Details: Random Walk Solutions is an investor in Innoviti. Specific details about their background are not provided.
  • Investment Focus Areas: Not specified.
  • Notable Investments: Not specified.
• Panthera Growth Partners
  • Details: Panthera Growth Partners is a growth equity firm that has invested in Innoviti. Specific details about their involvement are not provided.
  • Investment Focus Areas: Not specified.
  • Notable Investments: Not specified.

Note: The disclosed valuation of Innoviti is not publicly available.

What's Next for Innoviti?

Innoviti stands at the cusp of significant growth, leveraging its recent funding to enhance payment solutions and integrate real-time sales data for merchants. This capital infusion opens doors to expand operations and improve technology, aligning with industry trends favoring fintech solutions that streamline business processes.

Future fundraising opportunities appear promising, especially with the backing of prominent investors like Bessemer Venture Partners. If Innoviti continues to innovate and grow, it could attract further investments or even become an acquisition target for larger firms seeking advanced payment and data analytics capabilities.

However, challenges such as competition from other fintech companies and the need to keep up with rapid technological advancements remain. Ensuring data security and regulatory compliance will also be critical as Innoviti navigates its path forward.

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