Mayfield India, SIDBIVenture infuse Rs 50 cr into Fourcee
Press Trust of India / Mumbai Mar 08, 2010, 15:52 IST
Mayfield India Fund and SIDBIVenture today announced an investment of Rs 50 crore in Fourcee Infrastructure Equipment (Fourcee), which will help it expand tank terminals, add more containers and grow infrastructure, a press release issued here stated.
"This new investment reflects Mayfield India Fund's investment theme of adding value to growth-stage companies in the consumer and infrastructure segment. The alliance comes at a time when the industry has shown consistent growth, even in these challenging economic times," the release said.
Currently, Fourcee is the only company focused on providing end-to-end logistics solutions for liquid cargo through road and railways using its own specialised designed containers.
"The logistics industry in India is going through a structural change and Fourcee struck us as a company that is bringing about a transformational change in the way liquid cargo is being transported across the country," MF Advisors Managing Director Vikram Godse said, who would be joining Fourcee's Board of Directors, the release added.
Mayfield Fund has invested in the US, China and India and currently has assets worth $2.4 billion under management.
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