Netscribes Raises Second Round of Funding; Plans Inorganic Growth

Netscribes has also acquired Inrea Research, a niche patent research and analytics market player.

Netscribes, Inc., a company offering research & analytics solutions, has raised a second round of growth capital from Basil Growth Corporation, a Mauritius-based venture capital firm. The company already has New York‐based Insight Venture Partners as its investor from its first round of funding.
The funds would be used by Netscribes to rapidly expand its operations across US, Europe and Asia‐Pac regions. Netscribes is in the process of expanding its service offerings across research and market intelligence to strengthen its position as a leading knowledge services provider. The company has most of its operations in India with 4 delivery centres across the country (Mumbai, Kolkata, Pune and Delhi) and offices across the globe. The funds will be raised in expanding the work force and also pursue acquisitions.
The KPO firm had also raised money from Connect Capital in its initial days – an early stage venture capital firm floated by Ramanan Ranghavendran, the present Managing Partner at Kubera Partners.
The global knowledge solutions firm, also announced the 100% acquisition of Inrea Research, a dynamic player in the niche patent research and analytics market, through a cashcum‐stock deal. Founded by a team of IIT alumni, Nalin Agrawal, Navendu Agarwal and Saurabh Shekhar, Inrea Research has a team of techno‐legal professionals and patent analytics systems.

Source: VC Circle
Full Article: http://www.vccircle.com/500/news/netscribes-raises-second-round-funding-plans-inorganic-growth