Technology for MSMEs: Global private equity (PE) firm Investcorp has acquired Unilog – a application-as-a-service (SaaS) primarily based e-commerce options provider to modest and medium enterprises (SMEs) – for an undisclosed sum. The PE firm mentioned on Thursday it has entered into an agreement to acquire Unilog, which is headquartered in the US and has international headquarters in Bengaluru, that assists distributors, companies, and wholesalers boost on the web sales, lower the price to serve, and boost their digital channel. “Unilog presents an attractive opportunity, as it operates in a large and growing addressable market driven by e-commerce adoption, which has only been further accelerated amidst COVID-19,” mentioned Gaurav Sharma, Head of Private Equity, Investcorp India. Unilog was Investcorp’s 10th investment in the Indian market place more than the final 4 years.
Led by Suchit Bachalli, Unilog’s SaaS business enterprise has grown 3x in revenues considering the fact that FY2018 serving more than 350 SMEs at present in about $10 billion market place for application answer services to distribution and retail companies working in the US. “We are thrilled to have their global brand backing us as a capital partner. We strongly believe this partnership will help Unilog achieve our goals faster,” mentioned Suchit Bachalli, CEO, Unilog.
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So far, Investcorp has created about 200 PE investments in the US, Europe, the Middle East, and North Africa area and Asia, across several sectors such as application, information analytics, cybersecurity, and payments. In India, it had created investments in mid-market place businesses and focuses on sectors such as customer tech, healthcare, economic services, and technologies segments. InCred, ASG, Zolo, Citykart, Intergrow Brands, Bewakoof.com, NephroPlus, Freshtohome, and XpressBees had been other businesses that had been backed by Investcorp. “The focus is on targeting first-generation entrepreneurs scaling up businesses with asset-light models and proven unit economics,” the organization mentioned. It had $32.2 billion in total assets below management as of June 30, 2020.
The improved adoption of e-commerce options has come amid Covid as companies shifted towards application that provided simplification of complicated processes, inventory management, solution details management, intuitive search, integration with ERP, and other associated functions. According to Statista, the e-commerce application application market place will develop from $6 billion in 2019 to $7.3 billion in revenues globally in 2024.