Tuesday, 10 June 2014

Axon Partners Group invests in iYogi to fuel its growth in Latin America

Axon Partners Group, an International investment firm, has come ahead to invest in iYogi- a leading on-demand tech support provider for consumers and SMEs. This partnership has brought around a significant total raise of USD 28 million in Series E investment.

Axon Partners Group has a strong presence in Spain and Latin America. It has come forward to deliver assistance to iYogi to get a strong hold in these regions through partnerships with telecom companies. It has joined the race along with Madison India Capital and some existing investors.

Francisco Velázquez de Cuéllar, President of Axon Partners Group comments, “Axon is very pleased to be working with iYogi, further expanding our technology portfolio in India. We have been impressed by iYogi’s technology, energy and professional management. Technology is one of the hot investment areas and is one of Axon’s core investment focuses worldwide, so we believe that iYogi represents a great opportunity for our investors.”

This has granted iYogi a significant opportunity to double its revenue in the coming years. The recently launched service in Spain through a partnership with Telefonica group has led to the expansion of iYogi’s tech support service in Latin America and Spain as well.

 “It’s great to have Axon Partners Group on board, as their presence will help accelerate our expansion into Latin America. Spanish is the 2nd most popular language across the globe and key markets across the Latin American region are witnessing rapid growth in devices, which presents a tremendous growth opportunity. We plan to initially focus on the four geographies in this region.  It’s great to have the right investors backing us as we change gears,” says Uday Challu, co-founder and CEO, iYogi.

The idea of Digital Cloud Service, iYogi’s technology platform, occupies the core of iYogi’s expansion strategy. It can not only help telecom companies generate new revenues through various channels of support service, but also increase customer lifetime and value.   

Francisco Velázquez de Cuéllar adds, iYogi is our fourth investment in India and we look forward to supporting the team in their expansion into new business verticals across the different geographies, specially Europe, Latam and some African countries. We have experienced working with various large telecommunication operators worldwide, which also provides an added advantage to iYogi’s business plans going forward.”