Top Story

e4m_logo.png

Home >> Digital >> Article

Domestic computer support brand iYogi gets international investors

26-April-2007
Font Size   16
Domestic computer support brand iYogi gets international investors

With manufacturers failing to meet customers’ demands, a new category has evolved in the market that provides support for desktops to consumers directly to their destinations. iYogi has announced in the capital that it has raised $3.1 million through a tie-up with Canaan Partners and SVB Financial Group. iYogi is a computer support provider for home and small businesses on the phone and via remote access.

Canaan Partners is a global venture capital firm that specialises in early-stage information technology and life sciences companies, while SVB Financial Group is the parent company of SVB Silicon Valley Bank. Alok Mittal, Executive Director, Canaan Partners, was named to the iYogi board of directors.

Such an investment from Canaan Partners will speed up iYogi’s growth and customer acquisition and would also promote its delivery infrastructure. Canaan has been the leading investor in the online matrimonial service portal Bharat Matrimony.

About the latest tie-up with iYogi, Mittal said, “As computers become more central to our lives, technology and service companies are in a race to provide tools and solutions that can meet the ever growing need for support. iYogi is Canaan Partners’ first investment in a growing trend of outsourcing services from India, wherein companies establish a direct customer relationship with end consumers.”

Uday Challu, CEO, iYogi, said, “Most manufacturers have been scaling back the scope of their warranties, thus leaving customer distraught. This has led to the emergence of the third party vendor independent support providers. It is a new service category and an opportunity to shape customer expectations. We are delighted to partner with Canaan Partners and Silicon Valley Bank. Together they bring a wealth of knowledge and experience. More importantly, they share a common vision to bring to market next generation services, reaching millions of customers across the globe.”

Tags

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

The campaign, featuring brand ambassador Farhan Akhtar, exhorts consumers to showcase their achievements through the walls of their homes.

We list a few important stories that you may have missed in the week gone by

The campaign takes the narrative forward to persuade prospective investors to invest in mutual funds