Capillary Technologies Raises Around $20 million from Existing Investors including Warburg
Bangalore, 21st February 2018: Capillary Technologies, a leading cloud-based software solutions company that enables retailers to intelligently engage with their customers, today announced the raising of approximately $20 million over the past year from its existing investors, including Warburg Pincus and Sequoia Capital. With these funds, Capillary expects to strengthen its new product development, powered by Artificial Intelligence and Machine Learning catering to Asia and other upcoming emerging markets. The company also plans to invest behind the newly launched Consumer Goods vertical with its industry-leading solutions.
Speaking on the occasion, Aneesh Reddy, Co-founder andCEO, Capillary Technologies, “We have a great partnership with ourinvestors, who continue to believe in our vision and expansion plans. More than70% of these funds would be devoted to research and development powering allour products with AI. We’re also looking to further strengthen our presence inChina and the Middle East, besides penetrating further into Southeast Asia. Wewill soon be opening our second office in China at Guangzhou and then anotherat Beijing later this year. Going beyond retail, we are expanding into adjacentindustry - Consumer Goods (FMCG) which has a close affinity to retail. We arewell poised with our solutions and innovations to help the consumer goodsbrands reach and effectively engage with their customers (retailers) and endconsumers through digitization”
Commenting on the investment, Vikram Chogle, WarburgPincus, said, “There were two key elements of the opportunity thatcaught our attention at the time of Warburg Pincus’ first investment inCapillary - the ability to back a talented and passionate entrepreneur inAneesh, and the core Capillary product’s capacity to deliver a superior valueproposition to a customer base with an unmet need. Since Warburg Pincus'initial investment, Capillary has established a clear leadership position inthe market and emerged as a preferred partner for brands and retailersthroughout the region. We are pleased to continue to be a part of theCompany’s journey as the team further scales the business.”
In less than 10 years, Capillary’s cutting-edge solutionshave been used by more than 300 marquee brands across 25,000 stores inover 30 countries to enable easy and seamless consumer experiences.