India's Saama Capital invests in AgreeYa
Saama Capital has invested in AgreeYa Mobility, an enterprise-mobility company, to aid the development of its flagship product. Details of the transaction were not disclosed.
The product, called Onvelop, is a program designed for companies adopting bring-your-own-device (BYOD) policies. It enables employees working out of the office to access their work-flow on Android, iOS and Windows devices.
Krish Kupathil, CEO of AgreeYa, said that the funding would assist efforts in bringing Onvelop, which launched earlier this year in partnership with Microsoft, to market. AgreeYa has also formed a partnership with the newly launched Samsung platform for enterprises, Samsung Knox
"Onvelop is an important solution in the enterprise marketplace that tackles a significant issue for large corporations with a tech-enabled workforce," said Suresh Shanmugham, managing partner of Saama Capital, in a statement. "AgreeYa Mobility's partnerships with Samsung, Microsoft and Vodafone are great indicators of the opportunities that lie ahead for the company. "
AgreeYa is headquartered in California and has development centers in the US, Canada, Poland, India, China and South Korea.
Founded in 2006, Saama Capital was part of Silicon Valley Bank (SVB) Financial Group, before spinning out in 2012. It is the independent successor fund to SVB India Capital Partners I. Saama Capital invests in emerging Indian companies across a range of industries, typically deploying $1-3 million per transaction.
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