India Innovation Fund invests in India’s iKen Solutions
India Innovation Fund (IIF) has invested in iKen Solutions, a research spin-off of The Indian Institute of Technology in Bombay. The investment will be used to scale up the company’s execution and commercialization capabilities.
Founded by Rajendra Sonar, a professor at IIT Mumbai, and serial entrepreneur Siddharth Goel, iKen Solutions has a flagship product known as Mooga, a comprehensive consumer analytics framework, which deals with individual customers according to their personal tastes and behaviors.
"By providing real time personalization at the individual level, Mooga brings a paradigm shift in the way markets will treat customers," said Siddharth Goel, CEO of iKen Solutions, in a press release. "The investment from IIF will help us scale our execution capability and at the same time help leverage collaborative linkages and access markets."
As part of the transaction, Sharad Sharma, former CEO of Yahoo R&D India, and Ashwin Raguraman, vice president of IIF, will join the board of iKen Solutions as India Innovation Fund nominees.
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