Genesis Colors Pvt. Ltd. has received an investment of Rs110cr from a US based consortium: Sequoia Capital Fund, Mayfield Fund and Silicon Valley Bank. The investors are being issued a minority stake in the company in return. The Company plans to utilize the funds to expand retail operations of Satya Paul which which is on a rapid expansion spree in India and overseas. The first Satya Paul international store is opening in Singapore in July 2008. The money will also be used for investments in technology – ERP solutions and a CRM program.
25 June 2008
Genesis Colors gets Rs 110cr investment from US consortium
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