Bangalore, India, February 21, 2018- Capillary Technologies, a leading cloud-based software solutions
company that enables retailers to intelligently engage with their customers,
today announced the raising of approximately $20 million over the past year from
its existing investors, including Warburg Pincus and Sequoia Capital. With these
funds, Capillary expects to strengthen its new product development, powered by Artificial
Intelligence and Machine Learning catering to Asia and other upcoming emerging markets.
The company also plans to invest behind the
newly launched Consumer Goods vertical with its industry-leading solutions.
company that enables retailers to intelligently engage with their customers,
today announced the raising of approximately $20 million over the past year from
its existing investors, including Warburg Pincus and Sequoia Capital. With these
funds, Capillary expects to strengthen its new product development, powered by Artificial
Intelligence and Machine Learning catering to Asia and other upcoming emerging markets.
The company also plans to invest behind the
newly launched Consumer Goods vertical with its industry-leading solutions.
Speaking on the
occasion, Aneesh Reddy, Co-founder and CEO, Capillary Technologies, “We have a
great partnership with our investors, who continue to believe in our vision and
expansion plans. More than 70% of these funds would be devoted to research and
development powering all our products with AI. We’re also looking to further
strengthen our presence in China and the Middle East, besides penetrating
further into Southeast Asia. We will soon be opening our second office in China
at Guangzhou and then another at Beijing later this year. Going beyond retail,
we are expanding into adjacent industry – Consumer Goods (FMCG) which has a
close affinity to retail. We are well poised with our solutions and innovations
to help the consumer goods brands reach and effectively engage with their
customers (retailers) and end consumers through digitization”
occasion, Aneesh Reddy, Co-founder and CEO, Capillary Technologies, “We have a
great partnership with our investors, who continue to believe in our vision and
expansion plans. More than 70% of these funds would be devoted to research and
development powering all our products with AI. We’re also looking to further
strengthen our presence in China and the Middle East, besides penetrating
further into Southeast Asia. We will soon be opening our second office in China
at Guangzhou and then another at Beijing later this year. Going beyond retail,
we are expanding into adjacent industry – Consumer Goods (FMCG) which has a
close affinity to retail. We are well poised with our solutions and innovations
to help the consumer goods brands reach and effectively engage with their
customers (retailers) and end consumers through digitization”
Commenting on the investment, Vikram
Chogle, Warburg Pincus, said, “There were two key elements of the opportunity
that caught our attention at the time of Warburg Pincus’ first investment in
Capillary – the ability to back a talented and passionate entrepreneur in
Aneesh, and the core Capillary product’s capacity to deliver a superior value
proposition to a customer base with an unmet need. Since Warburg Pincus’ initial investment,
Capillary has established a clear leadership position in the market and emerged
as a preferred partner for brands and retailers throughout the region. We are pleased to continue to be a part of
the Company’s journey as the team further scales the business.”
Chogle, Warburg Pincus, said, “There were two key elements of the opportunity
that caught our attention at the time of Warburg Pincus’ first investment in
Capillary – the ability to back a talented and passionate entrepreneur in
Aneesh, and the core Capillary product’s capacity to deliver a superior value
proposition to a customer base with an unmet need. Since Warburg Pincus’ initial investment,
Capillary has established a clear leadership position in the market and emerged
as a preferred partner for brands and retailers throughout the region. We are pleased to continue to be a part of
the Company’s journey as the team further scales the business.”
In less than 10 years,
Capillary’s cutting-edge solutions have been used by more than 300 marquee
brands across 25,000 stores in over 30 countries to enable easy and
seamless consumer experiences.
Capillary’s cutting-edge solutions have been used by more than 300 marquee
brands across 25,000 stores in over 30 countries to enable easy and
seamless consumer experiences.
