Ideas|Products|Startups|VCs

Sequoia Capital India today announced that it has invested INR 60 crore in Quick Heal Technologies, India’s leading provider of computer security software products. This investment will help Quick Heal Technologies in growing its product portfolio, expanding its global distribution footprint and funding future acquisitions.

Quick Heal Technologies has been growing at a CAGR of almost 100% for the last three years, making it the fastest growing software product company in the computer security space in India. The Company registered revenues of more than INR 100 crore in FY 09-10, all from its indigenously developed product portfolio. With this investment Sumir Chadha, Managing Director, Sequoia Capital India will join the board of the company.

Sumir Chadha, Managing Director, Sequoia Capital India said, “Quick Heal is today the first choice computer security product for consumers and business owners. We are confident that the company will continue to strengthen its dominant position in India and replicate this success in overseas markets.”

Quick Heal has a suite of award-winning computer security products that are installed in corporate, small businesses and consumer’s homes protecting their computers from viruses and other security threats. The Quick Heal Total Security product, addresses a wide range of distinct security needs that protect the PC from online and offline threats, in addition to providing privacy protection and PC optimization. The company also added a unique feature to Quick Heal Total Security called the PC2Mobile Scan, which enables users to scan, detect and delete malware, spyware and viruses from mobile phones.

Kailash Katkar, Managing Director and CEO, Quick Heal Technologies said, “We are proud to have Sequoia Capital partner us in our quest to be a global market leader in computer security. While we continue to build on the strong platform in the domestic market, we will also look to expand our global network through organic and inorganic growth.”

-Hitesh, vcBytes.com

SKS Microfinance which gives small loans to poor borrowers, founded by Vikram Akula is coming out with Initial Public Offering (IPO) of 16.8m shares with a fixed price band at 850-985 rupees/share. Thus SKS microfinance is all set to raise $353M from the IPO process.

SKS Microfinance is India’s biggest microfinance institution with a loan book of Rs. 4300 thousand Crores is well funded by  Sequoia Capital, Kismet Capital, Unitus, venture capitalist Vinod Khosla and Catamaran.

SKS Microfinance plans to use the share sale proceeds to augment its capital base to meet future capital requirements that is likely to be fuelled by growth in the business, the company said in its offering prospectus.

Vikram Akula, the founder and the chairperson, who owns 3.8 per cent in the company as employee stock options, said he had sold 25 per cent of his stake to a private equity firm.

Sequoia is going to make around 15-18x returns from its investments and Catamaran has also hit the jackpot with their first investee company going public.

-Hitesh, vcBytes.com

OTA firm Via, formerly Flightraja has raised close to $10M USD from Sequoia Capital. Earlier Via has raised around $5M USD from NEA-Indo US Venture. This investment is a good sign for resurgent OTA industry and investment has come in after a long gap in this indusrty. Via provides services like bookings for flights, railways, buses and holidays.

OTA’s still remain favorite among VC’s and OTA’s like Cleartrip, MMT, Travelguru have earlier raised huge investment from prominent Indian VC’s.

Via main business comes from traditional travel agents who are provided with Via booking terminal to book tickets for customers. B2B model is paying good results for Via, not significant of revenue is generating from their B2C model though.

Via started in 2006 is founded by Vinay Gupta, Amit Aggarwal, Rohit Gaddi, Harsh Azad.

-Hitesh, vcBytes.com