Tech Solution Providing Startup – Karomi, secures Rs.3.5 Crore ($500K) of seed funding from early-stage venture funding Ideaspring Capital. It was the first seeding investment made by IdeaSpring.
The Chennai-Based startup was founded by Vilva Natarajan, in the year 1999 and the operations went online in the year 2003. Natarajan is an Engineering Graduate and has done Masters from Louisiana State University. Earlier he worked as a Manager of R&D for Synopsys.
Karomi is leading solution provider for Life Sciences, CPG, Cosmetics and Large Enterprises. It helps the companies to mitigate the inherent damage to productivity, profitability, brand reputation and patient safety. Its flagship model, ‘ManageArtworks’ is a management software that helps regulate industries like pharmaceuticals and consumer packaged goods ensure regulatory compliance for their pack labels. The firm has worked with more than 100 MNC’s around the globe.
Karomi will use its new funds to expand its operations to other countries, starting with the US market.
The Bangalore-based IdeaSprings Capital invests in home-grown product start-ups. The capital venture was founded in 2016 by Naganand Doraswamy(Co-founder of SPAN System Corporation). Arihant Patni and Deshpande are Managing Directors and Suryaprakash Konanuru is CTO of the firm. IdeaSprings claim themselves as institutional partners for entrepreneur teams who are re‑imagining technology to enable a better world. The total fund set by the capital is of Rs 125 Crore. The main aim is to invest in product innovation startups that can also scale globally. Read more startup funding news