Tag: founder and Managing Partner

Business World, News

IvyCap Ventures announces the sale of its stake in Leixir Dental Group with 4x returns

Apr 22, 2021 by Rekha Nair 0 Comments #CEO, #founder and Managing Partner, #Harmeet Bindra, #IvyCap Ventures Advisors Pvt Ltd, #Leixir Resources Pvt Ltd, #Vikram Gupta

Mumbai–IvyCap Ventures, one of the leading homegrown venture capital funds, announced the sale of its stake in Leixir Dental Group with 4x returns. Leixir is a technology-enabled provider of outsourced dental solutions serving both the independent dentists and dental service organizations (“DSOs”) as well as technology and distribution companies. Leixir is pleased to welcome Comvest Partners as an investor.

The company operates five dental laboratories across the U.S. in addition to a digital design and manufacturing facility in Gurugram, India. Harmeet Bindra, founder of Leixir, will continue in his role as CEO and Executive Chairman.

Commenting on this financial deal, Vikram Gupta, Founder and Managing Partner, IvyCap Ventures Advisors Pvt Ltd, said, “We are pleased to be part of Leixir’s journey in its climb to becoming one of the leading dental labs in the US in India. Leixir has been a pioneer in this space in India and has many firsts, particularly in the use of technology for engagement with dentists and in core manufacturing operations. We are pleased that Leixir has put India in the offshoring map of the global dental industry and confident that this will scale well in the years to come.”

IvyCap was the first institutional investor in Leixir in 2015. The core strategy was to build a cross border integrated dental lab network using digital technology to disrupt the sector. Leixir has since, acquired several leading labs in various geographies in North America and build an offshore centre for design and 3D printing in India. Leixir in the largest dental lab in India and is one of the largest dental labs in the US.The company has grown significantly since IvyCap’s investments.

“Today’s dental market demands high-quality production, fast turnaround times, digital design capabilities, and competitive pricing. Leixir is uniquely positioned to address all of these needs,” said Lee Bryan, Senior Partner at Comvest Partners. “Harmeet has built a truly impressive business, and we are very excited to partner with him and the Leixir management team.”

“This transaction represents an important milestone for Leixir. I am proud of the growth our team has achieved. We are extremely happy with our partnership with IvyCap Ventures. It had played an important role in chartering the growth of our company. We believe that Comvest is the ideal partner to support our future growth initiatives,” said Harmeet Bindra, CEO, Leixir Resources Pvt Ltd. “Comvest brings significant resources, a collaborative approach with management, as well as extensive experience, creating strategic and operational value for their portfolio companies.”

“Leixir is pushing the boundaries and redefining the role of today’s dental lab. The Company’s digital capabilities and proprietary end-to-end case management platform, MyLabConnect, are true differentiators which should enable Leixir to continue to capture market share,” said Marshall Griffin, Principal at Comvest Partners. “We look forward to working with Harmeet and the team at Leixir as the Company accelerates its growth trajectory as an industry-leading dental lab solutions platform.”

McDermott Will & Emery served as legal advisor to Comvest. Cain Brothers, a division of KeyBanc Capital Markets, acted as financial advisor and Orrick, Herrington & Sutcliffe LLP acted as legal advisor to Leixir in connection with the transaction. Financing for the transaction was provided by NXT Capital.

Business World, News

IvyCap leads 50 Crore INR Round into Leading Robotics Company, Miko

Apr 15, 2021 by Rekha Nair 0 Comments #Co-founder and CEO, #Founder and Chairman of Chiratae Ventures, #founder and Managing Partner, #IvyCap Ventures Advisors Pvt Ltd, #Miko, #Sneh R Vaswani, #Sudhir Sethi, #Vikram Gupta

Mumbai: Miko, the India-born global robotics leader, announced a 50 Cr INR fundraise led by IvyCap Ventures. Existing investors Chiratae Ventures, YourNest Capital, and angel investors led by Mr. Keshav Murugesh, former chairman of NASSCOMalso participated in the round.

The company has now scaled its user base to more than 140 countries globally with the engagement witnessing a 3X jump through the pandemic.The company is witnessing a massive surge in demand amidst the pandemic as parents are hunting for positive ways to engage kids in lockdown globally. Miko is also aiming for a portfolio of new products in the coming years.

Miko was started by three IIT Bombay graduates, Sneh R Vaswani, Prashant V. Iyengar and Chintan S.Raikar, along with global experts in engineering, mathematics, design and education. After the success of the first generation of Miko, the company launched Miko 2, a robot that can see, hear, sense, express, talk, recognize faces, remember names, identify moods, initiate a conversation and learn from its own environment to intuitively develop a bond with a child. Miko 2 cuts across a complex need-gap of education, technology, entertainment and hence an enabler in effective parenting, like none other. The company recently opened the Miko platform to allow child-focused content partners and developers to port their content on Miko and make it available to families on subscription. Subscription revenue is witnessing the fastest growth with nearly 50% of topline to be subscription revenue over the next 3 years.

The raised capital will be used to fund product development and strengthen global alliances as the company builds a strong global brand Vikram Gupta, Founder and Managing Partner, IvyCap Ventures Advisors Pvt Ltd, added, “We have closely seen Sneh and team build Miko and are delighted to witness such a solid technology and product company built in India and catering to global markets. The global play and sound fundamentals have ensured the company’s consistent growth trajectory. Very excited to partner with them!”

Sudhir Sethi, Founder and Chairman of Chiratae Ventures shared, “The company has showcased consistent month on month capital efficient growth amidst the pandemic. With this round,Miko is now well positioned to grow to a $100M revenue company with multiple products in 2 years from now.”

“Miko has demonstrated strong retention metrics along withconsistent and sustainable growth. We are clocking nearly a million interactions every 48-72 hours and are on track to register 500% YoY growth in revenue. We are elated to welcome IvyCap Ventures in our journey and highly appreciate the support from all existing investors.” said Sneh R Vaswani, Co-Founder and CEO, Miko.

Business World, News

Doubling your sales is more convenient than ever…Gaurav Bhagat Academy Launches the GB Academy app…

Feb 10, 2021 by Rekha Nair 0 Comments #founder and Managing Partner, #Gaurav Bhagat, #Gaurav Bhagat Academy

New Delhi: Gaurav Bhagat Academy, one of India’s leading sales training and mentorship institutes in the country, has recently launched its interactive app under the name GB Academy to make it convenient for businesses and entrepreneurs to access the premium content that can help them grow and expand their business. The app will serve as a single platform where the participants can register and enroll in a course of their choice, learn vital business tips, watch session replays, test their understanding of the syllabus, and track their progress in a smooth, seamless fashion.

The app also gives its users access to a lot of free content, including hundreds of hours of recorded lectures that can greatly benefit business owners and working professionals in a several areas related to sales and their work.

The app is available on both the Android and iOS platforms and hosts content from Grant Cardone, the #1 sales trainer in the world and New York’s bestselling author. Gaurav Bhagat Academy is the sole licensee of Grant’s content in India, and is, therefore, the only place where this premium content can be accessed.

Following are the features that make the app stand out:

  • The app is designed keeping in mind the user experience and therefore has a simple, easy to understand user interface.
  • The users will get instant notifications and reminders from the GBA team whenever they want.
  • The app hosts a variety of widgets and tools that make it quite easy to handle any task.
  • Participants can easily access their assignments.
  • The app is compact and occupies only 18 megabytes of space.

Gaurav Bhagat has trained thousands of business professionals over the years and has helped them live the 10X life. He is also a Director Consultant at Business Network International (BNI) and has been working with the business executives of some of the largest corporations in the country to help them achieve their goals.

Talking about the app, Gaurav Bhagat, founder and Managing Partner, Gaurav Bhagat Academy, said, “The Covid-19 pandemic that has been wreaking havoc around the world has left many businesses clueless as to how they can prevent the demand from plummeting. Consumer behavior has changed drastically since the lockdown period, and the sales strategies need to be adjusted accordingly.”

“We have stayed pretty active during the lockdown period via podcasts, our YouTube channel, and of course, our specially designed courses to help businesses survive and thrive. This app is the continuation of our effort to make it easy for businesses to achieve their goals. The whole concept is to make things convenient and bring teaching, learning, assessing, and monitoring under the same umbrella. We hope that this effort would pay off many more businesses will be able to benefit from it,” he further added.