Delhi-based document imaging solutions provider Newgen Software Technologies has raised $15.5 million (Rs. 97 crore) from IDG Ventures and Ascent Capital..The deal also marks the exit of early investor, Headland Capital Partners which had put in Rs. 30 crore in 2007..Samvad Partners advised Ascent Capital and IDG Ventures with a team led by Partner Siddharth Raja along with Senior Associate Neela Badami and Associates Sandeep Pareekshit Shruthi Chandrasekaran, Pranav Raju and Jaideep Reddy..BMR Legal advised Newgen with a team led by Partner Amit Khansaheb along with Rishi Jain and Vinayak Mishra..JSA acted for exiting investor Headland Capital Partners with a team led by Partners Sidharrth Shankar and Pallavi Puri along with Shantanu Jindel..AZB & Partners represented existing investor Sap Ventures with a team led by Delhi Partner Gautam Saha along with Senior Associate Amrita Patnaik and Associate Asha Kutty..Newgen will use the investment to strengthen presence in the US and other major developed markets, as well as in new product development, reports VCCircle.
Delhi-based document imaging solutions provider Newgen Software Technologies has raised $15.5 million (Rs. 97 crore) from IDG Ventures and Ascent Capital..The deal also marks the exit of early investor, Headland Capital Partners which had put in Rs. 30 crore in 2007..Samvad Partners advised Ascent Capital and IDG Ventures with a team led by Partner Siddharth Raja along with Senior Associate Neela Badami and Associates Sandeep Pareekshit Shruthi Chandrasekaran, Pranav Raju and Jaideep Reddy..BMR Legal advised Newgen with a team led by Partner Amit Khansaheb along with Rishi Jain and Vinayak Mishra..JSA acted for exiting investor Headland Capital Partners with a team led by Partners Sidharrth Shankar and Pallavi Puri along with Shantanu Jindel..AZB & Partners represented existing investor Sap Ventures with a team led by Delhi Partner Gautam Saha along with Senior Associate Amrita Patnaik and Associate Asha Kutty..Newgen will use the investment to strengthen presence in the US and other major developed markets, as well as in new product development, reports VCCircle.
