India, April 27, 2017: Portland-based serial Tech-Entrepreneur, Nitin Khanna, has invested US$ 5 million in a Punjab startup Isos. Nitin Khanna was the founder, Chairman, and CEO of Saber Corp., one of the largest providers of state government solutions in the United States. Nitin cofounded Saber in July 1998 and helped grow it to 1200 employees and over $120MM in revenue by 2007 when it was sold to EDS for $460MM.
Isos, the investee company is into developing productivity enhancement solutions, such as smart attendance, real-time tracking, and monitoring, inventory management, cashless transactions, security management, etc. The company was also awarded “Innovative Idea of the Year” by Tiecon Chandigarh 2017.
“Indian start-up ecosystem has gotten the attention of the world. The best part about India is that tech entrepreneurship is abounded in Tier 2 cities as well from where some very brilliant ideas and services have made success as startups. With productivity being the key for most companies Isos serves an essential need and we see growth in this segment”, said Mr. Nitin Khanna, who is also the CEO of MergerTech an M&A firm based out of Oregon, Portland.
“After working as an investment banker overseas, I have come across many potential start-ups around the globe. But, the zeal and commitment showcased by the Indian entrepreneurs, hailing from small towns is amazing. Today, investors are much more willing to invest in a start-up. But the problem is identifying the right start-up to invest and scale it has been the area of my expertise”, Mr. Khanna added.
In terms of the total number of startups, comprising both tech and non-tech areas. India again figured among the five largest hosts in the world, along with China (10,000 each). India is home to the third-largest number of technology start-ups in the world. The US and the UK occupy the top two positions, according to the study by ASSOCHAM in association with Thought Arbitrage Research Institute.
The Smart attendance system and real-time tracking with monitoring are likely to be presented to Prime Minister Narendra Modi shortly. The software can be deployed on campuses, government hospitals, offices, and industries.
Salonie Sharma Works in BluelotusPr Communication as a Manager. Been associated with the firm for the past 5 years. It is a National PR Communication Company known best for specializations in Healthcare, Finance, Technology, Education, Real Estate, and Brands. This multisector experience gives us an intricate understanding of the interrelated aspects of each brand. And it also helps us provide a holistic strategy to clients.
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