Prodapt Solutions which is a Chennai based information technology and telecommunications software solutions, has now secured investment from the London based private equity firm Affirma Capital.
The deal of the amount has not been disclosed as of now, but some of the reports suggest that it would be $70 million.
Proadapt, which is founded by the Vedant Jhaver in the year 1999, and focuses on the digital service provider ecosystem, and deliver the products and services in business support system, software designed network functions visualizations, infrastructure management, robotics process automation, machine learning, artificial intelligence and product life cycle, according to the report revealed.
Affirma Capital is operated and owned by the members of the management team from the Standard Chartered Private Equity. It has assets under the management of $3.6 billion and more than $700 million in new investments.
“The global telco and digital media industry is changing rapidly and offers a significant growth opportunity, and Prodapt is uniquely positioned to help its clients manage this transition and growth. We look forward to working with Prodapt and use our global franchise to help them grow, both organically and inorganically,”Udai Dhawan, co-founder, and head of India, Affirma Capital, said in the statement
This will be the fourth investment by the Affirma Capital in the previous 12 months. Before that, investments include the Northern Arc Capital, Tirupati Medicare, and Travel Boutique Online.
“Prodapt’s niche focus and differentiated capabilities is a great fit for our technology/IT sector thesis. What impressed us about Prodapt was the consistent endorsement by Prodapt’s global clients of its domain knowledge, flexibility, and a partner mindset. We are very excited to back the founders and the Prodapt family in their upcoming phase of growth,”Abhi Dhall, executive director, Affirma Capital