Education-related technology solutions provider Idenizen Smartware has received venture capital funding of $2.25 million (Rs 9 crore) from Vinod Dham-led NEA-IndoUS Ventures, to fund its pan-India growth plans.
The funding is expected to boost Idenizen’s countrywide expansion plans to set up branch offices and servicing centres as well as strengthen the Bangalore-based firm’s product offerings.
Idenizen founder and chief executive officer Girish Baliga said the funds would enable its patented product, SmartCampus, to reach and service educational campuses and institutions nationwide.
“The investment will help Idenizen play a critical role in taking India’s educational standards to international levels,” Baliga said.
He pointed out that the venture funding from NEA-IndoUS Ventures comes at a time when Idenizen has made its mark across numerous institutions with its ‘SmartCampuses’ by offering a wide range of solutions through SmartCampus that comes with rich product development experience.
SmartCampus is a comprehensive smart card-enabled software solution which integrates all key activities of an educational institution onto a single software-enabled platform.
Kumar Shiralagi, managing director, NEA-IndoUS Ventures noted that the market for such solutions would be driven by forward-thinking educational institutions who are today willing to invest in technology to deliver to their end customers: students, faculty and administration.
Started in 2004, Idenizen has charted out aggressive expansion plans across the country by setting up new offices, increasing sales and operations depth and forging strategic partnerships to successfully cater to the large market opportunity.
The firm has nearly 100 SmartCampus installations under its belt catering directly to thousands of students, teaching and non-teaching staff, and managements of institutes.
Functional areas automated by SmartCampus include department administration, staff profile, staff and student attendance, staff payroll, examinations, library management, accounting, student information systems, and hostel management, among others.
