Manthan Systems, provider of business intelligence (BI) and analytics solutions for the retail and consumer goods industries, announced it plans to expand over the next two years by entering into new markets. Manthan had recently secured a Series B funding of $15 million, led by Fidelity International.
“Our creations add value to retailers in more than a dozen countries worldwide including the US, UK, France, Italy, Philippines, Indonesia, Brazil and Australia. There has been substantial interest among larger retail groups in India for BI-led solutions. We are planning to strengthen our position in newer markets like Latin America, Eastern Europe, Baltic States and South East Asia in the next one year," said Atul Jalan, founder and CEO, Manthan Systems.
“The entire Indian innovation-led industry caught the flu when the global economy sneezed. Retailers caught in the grip of the slowdown were looking at solutions that would help them generate greater control and better value. Manthan, being invention-led, grew substantially at around 120 per cent and added 28 new customers. It is projected to clock around $18million in revenue, ” added Jalan.
— IndiaRetailing Bureau