You are here: Home » Companies » News
Business Standard

Thomson Reuters partners IvyCap Ventures

The agreement sees IvyCap becomes the lead investor in RML with Thomson Reuters remaining as a shareholder, partner

Mahesh Kulkarni  |  New Delhi 

Thomson Reuters, provider of information for businesses and professionals, and Advisors Private Limited (IvyCap), a venture management company, today announced that the two firms have come together to support the continued development of Reuters Market Light (RML), an information service for India’s farming community.

The agreement sees IvyCap, which is backed by the Network, become the lead investor in with remaining as a shareholder and partner in the newly formed Information Services Private Limited.

Terms and conditions of the transaction were not disclosed.

Amit Mehra, founder and managing director of RML, will continue to be the CEO of Information Services Private Limited and provide management continuity for the

RML supports both companies’ aims to deliver innovative services that support the development of the local communities they serve.

Established in 2007, Reuters Market Light pioneered the multi-award winning service that provides agricultural, weather, market price and crop information over mobile phones to the farming community.

Today, RML has reached more than 1 million unique subscribers across an estimated 50,000 villages and 17 states.

Vikram Gupta, founder and managing partner, said, “We are looking forward to adding significant value through our network of relationships across the value chain of RML.”

First Published: Mon, February 25 2013. 15:27 IST