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Innoviti in talks to raise pre-IPO funding
Mint Mumbai
|February 21, 2024
Fintech company Innoviti Technologies Pvt. Ltd is planning to raise a pre-initial public offering (IPO) funding round from new and existing investors, at least two people in the know said.
It is in talks to raise approximately $15 million (₹124 crore) in a round led by a Southeast Asian family office that is likely to invest $5 million. However, the name of the entity couldn't be immediately ascertained.
The distinctive aspect of this funding round is that not only will many large existing institutional investors participate, the company will also see contributions from angel investors, its founder as well as over 70 employees.
Innoviti is gearing up for an IPO within 18-24 months, the people cited above said, seeking anonymity.
This story is from the February 21, 2024 edition of Mint Mumbai.
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