Hyderabad startup Innovapptive receives $16 mn funding from Tiger Global

Innovapptive, a connected workforce platform for asset intensive industries, on Wednesay announced a Series A investment of $16.3 million led by New York investment firm Tiger Global management, LLC.

The new funding, which brings the company's valuation to over $65 million, will be utilised for the company's global expansion and for further investment in its connected workforce platform, the Hyderabad-based startup informed.

"We are connecting the enterprise by providing a platform that improves real-time data collaboration and communications between the field and back office. The communications and collaboration data are captured and converted into executive insights for continuous work force optimisation," Sundeep Ravande, CEO and co-founder of Innovapptive said.

The company's connected workforce platform connects the industry worker, back office and company leadership to help customers minimise plant outages by reducing maintenance backlogs, improving inventory accuracy, work force capacity and data accuracy.

"Innovapptive has developed a leadership position helping industrial companies improve the productivity of their employees and their capital assets," said Scott Shleifer, Partner at Tiger Global Management.