Touchstone Trust, a private investment fund floated by Hyderabad-based financial services firm Touchstone Equities Ltd, is making a small ticket investment in one-year-old Bangalore-based startup Channelyst Advisory Services Pvt Ltd, which runs an online business channel partner search marketplace Channelyst.
For more details on the funding click here.
"The fund will be used as working capital, to broad-base the presence of the website and enhance field work," said Sanjay Jhunjhunwala, CEO, Touchstone Trust.
"There are not many companies which cater to this segment and therefore we feel it has the potential to tap the demand and serve as a meeting ground for companies and channel partners," he added.
Channelyst is a channel strategy consulting firm which offers advisory to organisations on channel strategy and channel partner sourcing. Although the firm's website says launching soon it claims to have profiled 1,623 FMCG partners and intermediated 257 client-partner meetings since it started.
Established a year ago by Anterpreet Singh and Anish Basu Roy, both former employees of Nokia, this marks the first fundraising exercise for the firm. The firm plans to raise more funds going ahead.
(Edited by Joby Puthuparampil Johnson)