Hyderabad-based Parampara Capital, which recently launched its first fund Parampara Early Stage Opportunities Fund I has accomplished the initial closure of their SEBI registered AIF Category I fund. With this, the fund has also announced its investment in Mumbai-based S-Cube Futuretech, an engineering automation software provider.
This is the first investment by the $15m fund which seeks to make investments in the technology and innovation driven companies.
Founded in 2013 by Sajit V Nair and Viswas Date, S-Cube Futuretech, offers software solutions to the structural and civil engineering industry. It has developed products for automating structural planning and design.
Jatin Desai, General Partner at Parampara Capital, said, “S-Cube offers the perfect mix of innovative products, strong team and niche operating space – qualities which are the cornerstone for our investment philosophy. We see this company in line with ‘Start Up India’ and ‘Make in India’ initiatives – creating strong IP & domain knowledge based software products.”
S-Cube clients include Tata Consulting Engineers, Sterling Engineers, Engineers India and Toyo Engineering. International players like Bentley and CSI operate in this space.
The company will utilize the funds for product development and strengthening the company’s presence in Asian countries.