Chennai-based Valgen Infosystem Pvt Ltd, which provides ERP solutions for SMEs and SMBs, has recently raised Rs 2.25 crore in angel funding from Blume Ventures and a couple of angel investors.
Blume led the round with Rs 1.25 crore, of which Rs 75 lakh had already been transferred and the balance would be received soon. Following this investment, Karthik Reddy, managing partner of Blume Ventures, joined the board of Valgen.
Valgen was set up in 2010 by B Hariharan and Vijay R Lakshmanan. The company is currently pushing growth and a significant portion of the money raised would be used for product development, besides marketing and hiring talents. It also plans to expand into other cities.
Talking Techcircle.in, Vijay R. Lakshmanan, co-founder and business head of Valgen, said, "As of now, we are working on delivering actionable business intelligence (BIs) and a proprietary tool (a mobile app) to capture transactions through voice. But some new and interesting products which are in the pipe line as well."
Currently operational only in Chennai, Valgen is keen to go pan-India. "We will soon start operations in Mohali to cover northern India and spread our wings in southern India as we foray into Bangalore," added Lakshmanan.
A commerce graduate from Madurai Kamaraj University and an FCA from the Institute of Chartered Accountants of India, Hariharan had been a partner of MS Krishnaswami & Rajan, a CA firm, and also founded two more companies â€“ Great Lakes Institute of Management and Valgen Business Solutions Pvt Ltd.
(Edited by Sanghamitra Mandal)