Eka Software Solutions, a leading global provider of multi-commodity trade and risk management solutions, announced that it has received a funding commitment of US $10 million from Nexus Venture Partners. Eka was earlier seed funded by the GP Group, a conglomerate with interests across shipping, manufacturing, real estate development and hospitality.
Talking about the new funding, Mr. Manav Garg, Founder & CEO, Eka Solutions says, “Eka is very well positioned to take advantage of the growing need for commodity trade and risk management software. Our products, technology and team are highly regarded in the market, and the rapid expansion in our customer base is testimony to this. The new funding will allow us to further enhance our technical, support and sales capabilities, and help capitalize on current opportunities to accelerate our growth“.
Eka’s products have been deployed by some of the major players in the global commodity market, enabling them to better manage their operations in complex, volatile, 24×7 global markets. The offerings help buyers, sellers and traders of commodities better manage their business across physical trading, risk management, derivatives, logistics, inventory and P&L. Eka’s clients include AWB, CHS, Louis Dreyfus and others who have deployed its products across a cross section of businesses, commodities and geographies. Eka was recently selected by Nasscom, India’s premier trade body and the chamber of commerce of the IT-BPO industries, as one of India’s top 10 emerging software companies.
“Our investment in Eka reflects the high degree of confidence we have in the management of the company and the soundness of the business model,” says Sandeep Singhal of Nexus Venture Partners, who will join Eka’s Board of Directors. “Eka has created a product that solves real customer pain area. Given the high demand for sophisticated products that meet complex risk management requirements of firms in the global commodity markets, Eka is very well positioned for greater success. We now look forward to working closely with the team to help take Eka to the next level.”