Exclusive: US investors Lip-Bu Tan, Michael Marks back analytics firm IQLECT
Summary
Analytics startup IQLECT, founded by former Jabong India CTO Sachin Sinha, has received an undisclosed amount in funding from well-known US investors including the founders of VC firms Walden International and Riverwood Capital. Lip-Bu Tan, founder of Silicon Valley-based Walden International and CEO of Cadence Design Systems; Michael Marks, former CEO of Flextronics and founding partner at Riverwood Capital; and Nicolas Braithwaite, founding partner at Riverwood Capital and former Flextronics CTO, have invested in their individual capacity, Sinha told VCCircle. Besides Jabong, he previously worked at apparel e-commerce company LimeRoad as the CTO and at Amazon as a senior engineering manager. Walden has invested in half a dozen Indian companies including AirTight Networks, Bankbazaar.com, e4e, Inc., Netspeed Systems, Inc. and Quatrro BPO Solutions Private Ltd. Marks, who was CEO of Flextronics for 13 years, is known to have taken the electronics manufacturing firms annual revenue from $93 million to $16 billion. Marks, Braithwaite and Tan are also partners at Walden Riverwood Ventures, which plans to invest around $20 million this year in three to four Indian startups.
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