Category: Press Release


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Iron Pillar announces an investment in Vyome Therapeutics

Vyome is an innovation-driven, clinical stage specialty pharmaceutical company

Mumbai—Iron Pillar, a venture growth investor with a presence in Mumbai and Palo Alto, is pleased to announce an investment in Vyome (Vyome Therapeutics Inc.), a clinical stage company developing novel drugs for antibiotic-resistant acne and other dermatology applications. This is Iron Pillar’s fifth investment from its maiden fund. Iron Pillar led the $22 million Series D round, which also saw investments from other new investors. Existing investors Perceptive Advisors, Romulus Capital and Kalaari Capital also participated in this raise. Part of the funds are being used for a secondary transaction.

Vyome’s management team members are leaders in the field, with deep expertise and a proven track record of successfully launching over 50 products in dermatology and other life sciences areas, and building visionary companies. Vyome has leveraged a combination of high-end computational biology, genomic analysis and proprietary chemistry to build a robust pipeline of patent-protected products targeting multiple dermatology indications. The lead molecule, VB 1953, which targets the large unmet need in the antibiotics-resistant acne prescription market, is currently being evaluated in advanced stage clinical trials in the U.S. Vyome has recently signed an out-licensing deal of marketing rights with a large specialty pharma company around its patented Molecular Replacement Therapeutics (MRT™) platform for treatment of resistant fungal diseases of skin.

Venkateswarlu (Venkat) Nelabhotla, CEO of Vyome, said “Vyome’s Series D raise comes at a transformational time for the company, as we prepare to initiate a phase 2b clinical trial with our lead candidate, VB 1953, and as we establish the center of operations in the U.S. We see this financing led by Iron Pillar as validation of Vyome’s innovative approach to efficient specialty pharmaceutical development and the ability of the company’s platform technologies to help solve the problem of microbial resistance related to skin pathogens. Establishing a U.S. company with access to U.S. capital markets and a robust talent pool, will allow us to push our programs forward with precision and efficiency.”

Mohanjit Jolly, Partner at Iron Pillar, added “We are thrilled to partner with Vyome and cement our long-standing relationship with co-founders Shiladitya and Venkat. This investment fits well with Iron Pillar’s approach of backing visionary entrepreneurs who are driving world-class innovation along with proven execution. Vyome is a unique U.S.-India play addressing a large unmet need with products that can leapfrog the competition. We look forward to leveraging our cross-border network and our U.S. capital markets experience to support Vyome as it seeks to establish itself as a leading life sciences technology company.”

About Vyome Therapeutics

Vyome Therapeutics is a clinical stage specialty pharmaceutical company, developing a deep pipeline of novel drugs for treatment of drug-resistant skin pathogens, including antibiotics-resistant P. acnes. The company’s lead drug candidate, VB 1953, will enter phase 2b clinical trial in the first quarter of 2019.  VB 1953 is a topical treatment for antibiotic-resistant acne, which is currently an emerging and unmet need with a potential $2 billion market opportunity in the U.S. alone. Vyome has a deep pipeline of preclinical new chemical entities, based on its patented Dual Action Rational Therapeutics (DARTs) technology, which are unique in their ability to overcome antimicrobial resistance. Vyome has developed clinically-validated antifungal products based on its innovative and patented technology platform Molecular Replacement Therapeutics (MRT™), a platform for which Vyome has recently signed an out-licensing deal of marketing rights with a large specialty pharma company. Vyome has assembled a world-class team of scientific and business development experts who have a track record of conducting scientific research, developing breakthrough products and building sustainable businesses. Additional information is available at http://www.vyometx.com.

About Iron Pillar 

Iron Pillar is a venture growth investor specializing in mid stage technology companies in India. We provide growth capital to proven businesses, focusing on Series B, C and D capital raises, as lead investors. The 6-member Iron Pillar founding team brings 120 years of combined experience with directly relevant skill sets in venture investing, M&A/IPOs/Exits, operations and technology. Our team is complemented by a renowned panel of advisors from the global technology industry. We leverage our collective experience and networks in India, the U.S., China and Europe to actively partner with entrepreneurs who are poised to scale their technology businesses. Additional information is available at https://ironpillarfund.com.

Media Contact

For Iron Pillar, Sanjna Tulsiani: sanjna@ironpillarfund.com

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Iron Pillar announces an investment in SEDEMAC

SEDEMAC is a leading provider of IP-led powertrain controls

Mumbai—Iron Pillar, an India focused venture growth investor, is pleased to announce an investment in SEDEMAC (Sedemac Mechatronics Private Limited), a technology company that builds innovative and reliable controls for engines and powertrains. This is Iron Pillar’s fourth investment from its maiden fund and fits well with its strategy of backing pioneering companies who are also proven leaders in their market segments.

Shashikanth Suryanarayanan, Chairman of SEDEMAC, said “Our vision is to be a globally respected controls company that has the gumption and ability to build first-in-the-world technologies that are used widely. We are well and truly on our way towards realizing our vision by establishing ourselves as a key entity shaping controls for small powertrains—100 million of which are produced each year globally including 20 million 2-wheelers in India. We are delighted with Iron Pillar’s backing of our story at a time when we are looking to grow substantially not just in India but around the world.”

Harish Hulyalkar, Partner at Iron Pillar, added “SEDEMAC is a truly unique Indian company, incubated in IIT-Bombay, which has consistently built new IP-led technologies for automotive OEMs and engine manufacturers. We are very excited to partner with SEDEMAC in the next phase of their growth journey, as they further extend their solutions to Indian and international customers, and deliver innovation to the world in the arena of powertrain controls.”

About SEDEMAC

SEDEMAC builds innovative powertrain control technologies that are deployed through a combination of large volume manufacturing of electronic controllers and long-term relationships with major OEMs/Tier-Is. The company has a special focus on controls for small powertrains both for the on-road and off-road markets where its solutions have been deployed on millions of 2-wheelers and hundreds of thousands of generators. SEDEMAC’s long term bets tend to be aligned with the global story of reduced emissions, improved fuel economy, electrification and improved user experience. The company’s immediate interest is in the disruption of the starter motor industry, beginning with 2-wheelers, through its Sensorless Integrated Starter Generator (ISG) technology. Additional information is available at http://www.sedemac.com

About Iron Pillar

Iron Pillar is a venture growth investor specializing in mid stage technology companies in India. We provide growth capital to proven businesses in the enterprise and consumer tech sectors, focusing on Series B, C and D capital raises, as lead investors. The 6-member Iron Pillar founding team brings 120 years of combined experience with directly relevant skill sets in venture investing, M&A/IPOs/Exits, operations and technology. Our team is complemented by a renowned panel of advisors from the global technology industry. We leverage our collective experience and networks in India, the U.S., China and Europe to actively partner with entrepreneurs who are poised to scale their technology businesses. Additional information is available at https://ironpillarfund.com

Media Contact

For Iron Pillar, Sanjna Tulsiani: sanjna@ironpillarfund.com

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Iron Pillar joins the Draper Venture Network

Iron Pillar joins the Draper Venture Network
This strategic partnership will bolster the fund’s global network for its growing portfolio

Mumbai—Iron Pillar, an India focused venture growth investor, is delighted to announce that it has joined the Draper Venture Network (“DVN”), a global alliance of 22 independent venture capital firms across 5 continents, with $1.6 billion in collective assets. Iron Pillar believes that global access and understanding are vital to the success of its portfolio companies and entrepreneurs, in today’s dynamic economic environment. DVN, through its member funds, corporate business development relationships and connections to the technology and investing ecosystem, will provide the Iron Pillar family with unparalleled cross-border access and reach.

“We are honoured and excited to become a member of this incredible collective, and are looking to leverage as well as contribute to DVN. This alliance will give our portfolio companies an opportunity to tap into best practices across hundreds of startups and dozens of markets around the world,” said Mohanjit Jolly, Partner. Iron Pillar’s portfolio, well balanced across enterprise and consumer technology companies, is thinking internationally from the get-go. DVN gives Iron Pillar’s portfolio a powerful global network to leverage, for business development, domain expertise, leadership sourcing, fundraising, partnerships as well as exit opportunities.

DVN member funds have funded over 600 companies and exited over 200 till date, including Skype, Baidu and Twitch. DVN principals have known Iron Pillar since its inception. “We are thrilled to bring in Iron Pillar as a member fund, another testament to our renewed commitment to India. We believe Iron Pillar’s venture growth strategy fits the needs of the maturing Indian venture market and look forward to working closely with the team and their portfolio companies going forward,” said Tim Draper, Founder of DVN.

 

About Iron Pillar

Iron Pillar is a venture growth investor specializing in mid stage technology companies in India. Iron Pillar provides growth capital to proven businesses in the enterprise and consumer tech sectors, focusing on Series B, C and D capital raises, as a lead investor. The 6-member Iron Pillar founding team—Anand Prasanna, Sameer Nath, Mohanjit Jolly, Harish Hulyalkar, Ashok Ananthakrishnan and Ashish Shah—brings 120 years of combined experience with directly relevant skill sets in venture investing, M&A/IPOs/Exits, operations and technology. The team leverages its experience and networks in India, the U.S., China and Europe to actively partner with entrepreneurs who are poised to scale their technology businesses. Iron Pillar recently announced the close of its maiden fund with over $90 million of committed capital. Additional information is available at https://ironpillarfund.com

Media Contact

For Iron Pillar, Sanjna Tulsiani: sanjna@ironpillarfund.com>

About DVN

Draper Venture Network (“DVN”) is an alliance of independent venture capital funds located in tech hubs across the globe. This robust collective brings together experienced investors and innovative entrepreneurs from across sectors and continents to share intelligence, source opportunities, and create greater value through cooperation. DVN was formed in 1990 by renowned investor Tim Draper and has since grown into a self-governed organization with a Silicon Valley-based Operations team dedicated to serving member funds and their portfolio companies. All member funds raise their own capital and manage their investment decisions independently.

 

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Iron Pillar announces the final close of its maiden fund

Iron Pillar announces the final close of its maiden fund

The fund will focus exclusively on Series B, C and D investments in venture backed technology companies built from India

Mumbai—Iron Pillar, an India focused venture growth investor, has announced the closing of it maiden fund. The Fund has secured aggregate capital commitments of more than $90 million.The Fund’s investors include a diversified group of institutions, sovereigns, family offices and technology entrepreneurs from the U.S., Europe, Middle East, Singapore, China and India.

Iron Pillar aims to back visionary entrepreneurs who have scaled their enterprise or consumer tech businesses beyond product market fit, generated meaningful revenue and achieved positive unit economics. The Fund has already made three investments—NowFloats, BlueStone andServify—and is on course to announce additional investments in the near future. The focus will remain on venture growth investments, with a preference to lead the Series B, C or D round. The lack of specialist venture growth funds has been frequently cited by VCs and entrepreneurs as a challenge, as the Indian market matures. Iron Pillar has expanded its investment and finance team and moved into a larger office in Mumbai. The team is complemented by a renowned panel of advisors from the global technology industry.

About Iron Pillar

Iron Pillar is a venture growth investor specializing in mid stage technology companies in India. Iron Pillar provides growth capital to proven businesses in the enterprise and consumer tech sectors, focusing on Series B, C and D capital raises, as a lead investor. The 6-member Iron Pillar founding team—Anand Prasanna, Sameer Nath, Mohanjit Jolly, Harish Hulyalkar, Ashok Ananthakrishnan and Ashish Shah—brings 120 years of combined experience with directly relevant skill sets in venture investing, M&A/IPOs/Exits, operations and technology. The team leverages its experience and networks in India, the U.S., China and Europe to actively partner with entrepreneurs who are poised to scale their technology businesses. Additional information is available at https://ironpillarfund.com.

Media Contact

For Iron Pillar, Sanjna Tulsiani: sanjna@ironpillarfund.com
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Iron Pillar announces an investment in Servify

Servify is a technology platform built to meaningfully improve service experience across product categories, starting with electronic devices.

Mumbai : – Iron Pillar, an India focused venture growth investor, announces its investment in Servify (Service Lee Technologies Pvt Ltd), a Mumbai based company which is currently redefining post purchase ownership experience for customers of global and Indian device brands, retailers, distributors and carriers. Iron Pillar is leading Servify’s $15 million Series B capital raise; existing investors Beenext and Blume Ventures are also participating in this round. This is Iron Pillar’s third investment from its maiden fund.

Servify uses a unique set of software and technology solutions to stitch together an otherwise unorganized after sales experience ecosystem for device brands to deliver a seamless customer experience. Servify has built a nearly profitable business in India, where it has established itself as the market leader. The company has recently launched operations in the U.S. and is setting up operations in Europe, to cater to existing clients who want the same high level of post purchase experience for their international customer base, which Servify provides to them in India. Servify currently works with a number of top device brands, retailers, distributors, insurers, service providers and carriers such as Amazon, AmTrust, Apple, Croma, Godrej, Huawei, Ingram Micro, Motorola/Lenovo, Nokia, OnePlus, OPPO, Panasonic, Redington, Reliance Jio, Reliance Retail, Xiaomi to name a few.

Sreevathsa Prabhakar, Founder and CEO of Servify, said “We are proud to have Iron Pillar in the team, who understood the huge opportunity that we are pursuing, during our very first meeting, like our existing believers Blume and Beenext. Add to that, they are entrepreneurs themselves with operational experience of running own companies or large businesses in the past; incredibly hands-on, deeply practical and just all-round great folks whom you can trust without hesitation. I am very excited, as the global industry connections the Iron Pillar team brings, along with the money, will help us scale significantly.”

Anand Prasanna, Managing Partner at Iron Pillar, added “Servify’s approach of working directly with the entire ecosystem and using an array of software solutions to organize the otherwise highly unorganized post purchase ecosystem is truly unique in the world. We are proud to partner with the visionary management team of Servify who are building a highly innovative technology company from India, backed by very strong execution and growth.”

Servify will use the growth capital from this Series B round for adding depth to senior management and building new technology solutions for its clients.

About Servify
Servify is a technology platform built to meaningfully improve service experience across product categories. The Platform is aimed to empower service experience across the life cycle of a product assisting in pre-purchase to post-purchase and re-purchase to re-cycle transactions; thus, closing the gap between consumer’s expectations and the brands’ existing fulfilment mechanism – all in ‘One Touch’ and transparent.

Servify currently works with a number of top brands spread across OEMs, Distributors, Retailers, Carriers, Service Providers and Insurers such as Amazon, AmTrust, Apple, Croma, Godrej, Huawei, Ingram Micro, Motorola/Lenovo, Nokia, OnePlus, OPPO, Panasonic, Redington, Reliance Jio, Reliance Retail, Xiaomi to name a few.

For more information on Servify visit www.servify.tech

About Iron Pillar
Iron Pillar is a venture growth investor specializing in mid stage technology companies in India. We provide growth capital to proven businesses in the enterprise and consumer tech sectors, focusing on Series B, C and D capital raises, as lead investors. The 6-member Iron Pillar founding team brings 120 years of combined experience with directly relevant skill sets in venture investing, M&A/IPOs/Exits, operations and technology. Our team is complemented by a renowned panel of advisors from the global technology industry. We leverage our collective experience and networks in India, the U.S., China and Europe to actively partner with entrepreneurs who are poised to scale their technology businesses.

Additional information on Iron Pillar is available at https://ironpillarfund.com.

Media Contact

For Iron Pillar, Sanjna Tulsiani: sanjna@ironpillarfund.com

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Iron Pillar secures INR 129 crores in the First Close of its India Fund

This milestone validates Iron Pillar’s differentiated venture growth investment strategy…

Mumbai : – Iron Pillar, a venture growth investor, has announced the first close of Iron Pillar India Fund I (the “India Fund”), a Category II Alternative Investment Fund (AIF) registered with SEBI. The India Fund has secured capital commitments of INR 129 crores (approximately $20 million) of its targeted corpus of INR 200 crores (approximately $31 million). Iron Pillar leads Series B, C and D capital raises for VC backed technology companies in India that have demonstrated product-market fit, generated material revenues and sustained strong growth with meaningful unit economics.

The India Fund has also announced its first two investments, NowFloats – A leading SaaS company for India’s SMB sector and BlueStone – India’s #1 online jewelry brand. Over the next few years, funds managed by Iron Pillar expect to back approximately twelve technology companies that are building scalable global businesses out of India or businesses that are disrupting large sectors in India through innovation and proven execution.

“A significant first close of our maiden India Fund, coupled with our two initial investments, has provided investors significant visibility into our portfolio. It has also signaled successful proof of concept for Iron Pillar’s venture growth investment strategy, which is differentiated in the Indian market” said Sameer Nath, Managing Partner of Iron Pillar.

Participating in this first close were SIDBI (the apex financial institution for MSME and leading fund-of-funds house in India) and the IIFL Seed Fund (the largest private sector fund-of-funds in India, sponsored by India’s #1 wealth manager). Family offices of successful entrepreneurs also participated in this close. “In addition to backing early stage funds, SIDBI is keen to help build the mid-stage ecosystem for venture capital in India by supporting funds like Iron Pillar investing in innovation led MSMEs” said Ajay Kumar Kapur, Deputy Managing Director of SIDBI. “The lack of dedicated venture growth funds in India is a gap—and opportunity—which Iron Pillar is addressing in a unique way, working closely with leading early stage VCs and entrepreneurs” said Karan Bhagat, CEO of IIFL Wealth Management.

About Iron Pillar
Iron Pillar is a venture growth investor focused on leading Series B, C and D rounds of technology companies in India (with round sizes ranging from $10 million to $50 million). Headquartered in Mumbai with a presence in Mauritius, Palo Alto and Shanghai, the 6-member Iron Pillar founding team brings 116 years of combined experience in venture investing, technology M&A/exits and operations along with deep networks in Silicon Valley and China. For more information on Iron Pillar, please visitwww.ironpillarfund.com.

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