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Gurugram 24th December, 2019 | India Business Excellence Fund – III, a fund managed and/or advised by MOPE Investment Advisors Private Limited (“MOPE”), have committed INR 2,500 million to VVDN Technologies Private Limited (“VVDN”/the “Company”), a Gurugram based company engaged in the business of Product Engineering and Electronics Product Manufacturing.
Established in 2007 by Bhupender Saharan, Puneet Agarwal, Vivek Bansal, and Murali Jayaraman, the Company is an integrated product design and ODM (Original Design Manufacturing) service provider with the ability to convert an idea/concept to final electronic product. The company has a large customer base including leading global semiconductor companies and large to mid-sized OEMs across multiple areas like 5G and Datacenter, Networking and Wireless, Camera and Vision, Automotive, IoT (Internet of Things), Cloud and Applications etc. It has a global sales footprint across USA, Europe, Korea, Japan, and India with 9 design/delivery centers employing 2,000+ engineers, and 4 manufacturing facilities to service its customers. VVDN is one of the fastest-growing ODM out of India which is innovating for the next era using technologies such as 5G, AI, ML, Big Data, Analytics, etc. Company has grown ~8x in revenues in a short span of four years (i.e. from FY15 & FY19)
Bhupender Saharan, Co-founder and CEO said, “Partnering with MOPE will accelerate VVDN’s growth plans and help the company in scaling the business. Their experience of investing in electronics manufacturing and organizational development in their portfolio companies will add a lot of value to our Company. We also expect MOPE to contribute meaningfully with its expertise of taking companies public. The funds would be utilized for acquisitions, expansion of manufacturing facility, engineering development labs and demo rooms which will help us serve our customers better, improve our capabilities and create value for all the stakeholders of the Company. JM Financial Services acted as a financial advisor to VVDN for the deal.”
Vishal Tulsyan, Managing Director and CEO of MOPE commented, “Our experience of investing in electronics product manufacturing space in India has been quite good. What we liked about VVDN is not just their strong focus on electronics manufacturing but one step behind which encompasses the whole product design and engineering from ideation to productization, adding a lot of value to its customers. We are excited about the market opportunity for VVDN’s solution and remain confident on the team’s capabilities to scale the business. Through this partnership with VVDN Technologies, we intend to create a leader of global scale in product engineering and manufacturing of differentiated new-age technology products.”
About Motilal Oswal Private Equity
MOPE Investment Advisors Private Limited (MOPE) is a subsidiary of Motilal Oswal Financial Services Limited (MOFSL), a diversified financial services group with businesses in Securities, Asset Management, Private Equity and Investment Banking. MOPE is currently managing three growth capital funds i.e. India Business Excellence Fund (IBEF), India Business Excellence Fund II (IBEF II) and India Business Excellence Fund III (IBEF III) focused on providing growth capital to mid-market companies, typically in the range of INR 100 – 300 Crore, across sectors. IBEF, launched in 2007 is an INR 550 Crore (US$ 115 million) fund and is fully invested in thirteen portfolio companies across sectors such as food processing, bulk packaging, power transformers, and power infra enablers, ITES, financial services, EMS, FMCG, auto components, etc. Out of the thirteen investments it has already made twelve exits. IBEF II, launched in 2012 is an INR 1,000 Crore (US$ 155 million) and is fully invested in eleven portfolio companies across sectors such as financial services, life sciences, niche manufacturing, and consumption-based sectors. On the back of its success of IBEF and IBEF II, MOPE recently raised INR 2,300 Crore (US$ 325 million) for IBEF III. Currently, investments are being made through IBEF III.
About VVDN Technologies
VVDN- a 'Concept to Production'? company is an acronym for Voice, Video, Data, and Network. It is one of the leading Product Engineering, Cloud and Manufacturing Companies that is uniquely positioned to deliver versatile, innovative, world-class quality products.
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