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Infra.Market to buy majority stake in Strata Geosystems for Rs 910 Cr

Construction solutions company Infra.Market said on Monday it will buy a majority stake in Strata Geosystems for an enterprise value of Rs 910 crore.

Infra.Market said it will buy the stake from US-based Glen Raven.

Strata’s CEO Narendra Dalmia and CDO (chief development officer) Gautam Dalmia will continue to remain at Strata and lead its global operations, the two companies said.

The deal will help Infra.Market offer geosynthetic manufacturing and geotechnical engineering services to its clients.

“Geosynthetics are new-age construction products which offer tremendous carbon savings and aid in sustainable construction goals. We have been at the forefront of advancing the adoption of these products in India and have successfully developed them in several infrastructure sectors such as highways, container yards, etc.,” said Narendra Dalmia, CEO of Strata.

“The platform Infra.Market provides will further aid and accelerate our vision of taking geosynthetics to every construction project and build a global category leader,” he added.

Ayekart names Kunjal Thackar as CFO, Co-founder

Fintech startup Ayekart has appointed Kunjal Thackar as its new Chief Financial Officer and Co-founder, a month after naming Vaibhav Joshi as CBO, Co-founder, and Global Head of its BFSI operations.

Thacker comes from the Hiranandani Group where he was CFO and head of HR. He has worked with Pipeline Infrastructure, Gujarat Gas Company, HPCL, and the BG Group in the past.

Thacker said he plans to focus on initiatives such as fundraising, IPO planning, and bolstering the startup’s governance practices.

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Dallas Venture Capital raises Rs 60 Cr from its LPs

Dallas Venture Capital (DVC) says it has raised Rs 60 crore from limited partners, including Self Reliant India Fund and NewcrestImage.

The VC firm aims to raise Rs 350 crore in total to support micro, small and medium enterprises (MSMEs). Self Reliant India contributed Rs 40 crore, while NewcrestImage and associates contributed Rs 20 crore, the company said.

DVC’s India portfolio includes MSMEs such as Disprz, an AI-powered upskilling platform; IntelleWings, a compliance solution provider; Hippo Video, a sales videos production platform; and Vunet, a digital transformation company.

“Through these funds, we will make strategic investments in MSMEs, which make technologies that help make India self-reliant and help them expand globally. We will help these MSMEs grow through DVC’s unique partnerships and global industry networks,” said Dayakar Puskoor, Founder and Managing Director of the VC firm.

DVC is based out of Dallas, Texas, US, and Hyderabad, India. It mostly invests in emerging technologies such as cloud infrastructure, B2B SaaS, AI/ML, etc.

Ennoventure names Chad Kite as chief commercial officer

SaaS company Ennoventure Inc said it has named Chad Kite as its chief commercial officer to drive its global go-to-market strategies.

Kite will closely look at sales, account management, customer success and partnerships as part of his role with Ennoventure.

In his 15 years of experience, Kite has worked in companies such as QOMPLX, Cvent, Basho, and Distil Networks.

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Femcare startup Avni expands to Andhra Pradesh, Telangana

Feminine care and hygiene startup Avni is looking to expand into Andhra Pradesh and Telangana, targeting 75,000 customers between FY23 and FY24.

The startup said its flagship products—reusable cloth pads and panty liners—are popular among the menstruating population in the two states, accounting for 60% of its sales in the region.

Avni offers a range of products from menstrual cups, antibacterial washes, and cotton pantyliners, to period wear wash and reusable cloth bags. It also has a 24-hour AvniBuddy helpline dedicated to helping menstruators.

The startup was founded in 2021 by a husband-wife duo Sujata Pawar and Apurv Agrawal.

(This story will be updated throughout the day)