Reliance Venture Invests in Gradatim IT

Reliance Venture Asset Management Ltd (RVAM), the corporate venture capital arm of the Reliance ADA Group, has invested an undisclosed sum in Gradatim IT Ventures India Pvt Ltd, for an undisclosed sum. Gradatim plans to utilize the fund to foray into newer markets such as Africa and East Asia, besides strengthening its product portfolio. Yes Bank was the sole advisor to this transaction.
 
Harshal J Shah, CEO, RVAM, said, in the statement, "Gradatim, with their breakthrough technology solutions, has been a pioneer in this space and we see immense potential for further growth. The firm is all set to grow exponentially, and we are indeed happy to partner with them."
 
According to a company statement, this is the third investment since April and 11th in total by RVAM. Its recent investments include Reverse Logistics Co, a reverse supply chain solutions company and Tessolve Services, a semiconductor test and product engineering firm.
 
C V Prakash, founder & CEO, Gradatim, said, "We view Reliance Ventures as a key partner in our transition into the next phase of growth. We plan to augment our operational capabilities and foray into newer markets such as Africa and East Asia."