Welcome!

News Feed Item

Forum Synergies Leads with Rs 100 Crore in Third Funding Round for Attero

NEW DELHI, August 29, 2014 /PRNewswire/ --

Bets big on new growth drivers to become a $1 billion value global enterprise 

Attero, India's largest electronic asset management company based in Noida, today announced a $15 million Series C round of investment in a round led by Forum Synergies (India), a pioneering PE Fund Manager. Attero's latest round of fund-raising, with all earlier investors continuing to stay invested as well as participating in the current round, underscores the overwhelming investor-confidence in the NASA recognized technology innovator.

The company is all set to catapult itself into the billion dollar league in the next four years, powered by Attero's low-cost, eco-friendly 360-degree integrated solutions for e-waste management, coupled with the rapid technology obsolescence and shorter life cycles of consumer technology products. Attero's proprietary disruptive technology makes it the only company with the knowhow for precious metal extraction, data security, electronics reverse logistics and refurbishment which reinforces its numero uno position in India. Now backed by the fresh investment from Forum Synergies, their high-engagement participation and the strong business leadership and industry experience that they bring, the Attero growth story is poised to take the big leap forward globally.

Commenting on the just-concluded deal, Samir Inamdar, Co-founder, Managing Director and CEO, Forum Synergies (India) said, "What attracted us to Attero was the innovative technology, the passionate and high-energy management team and their vision for growing the business. Attero addresses a growing environmental concern in India in a safe and efficient manner. We have well-founded expectations of growth and global impact from Attero. We are confident of helping Attero management create a global company out of India."

Added Mr. Hemchandra Javeri, Co-Founder and Executive Director, Forum Synergies, "E-waste continues to grow exponentially, posing grave environmental hazards that need to be tackled on a war-footing. It is this challenge that Attero has addressed admirably. We at Forum Synergies chose to partner with them because of the complete alignment of vision and commitment to the Triple Bottom Line. We are extremely excited to participate in this success story with Attero."

Mr. Nitin Gupta, CEO, Attero said, "Attero is at a significant inflexion point of its growth. This funding round is indeed timely as it will certainly help us fast track our business goals and enable us to scale the company, expand geographically, grow our client base and help more businesses manage e-waste in the country and globally. I am grateful to Forum Synergies for vesting their trust in Attero. I am excited that these eminent business leaders will assist us to make quantum jumps in performance, truly exemplifying 'Intelligent Capital' through a contribution on par with the global best."

According to recent studies, e-waste in India is set to reach 1.72 million metric tonnes by 2020. Such alarming figures call for urgent attention and action. To complement its efforts towards a sustainable e-waste management solution, Attero has also been working to formalize the informal sector, which handles a major portion of e-waste in India. The aim is to train informal sector workers and establish a consumer e-waste collection channel, which will divert e-waste to the formal sector for responsible recycling.  To bolster its efforts in this area, Attero is also actively involved in raising consumer awareness about e-waste through its collection drives & awareness programs. In fact, thanks to such initiatives, Attero is today the only end-to-end recycler in the country which moves more than a million pounds of electronic assets from 500 cities across 25 states.

The company has raised 2 earlier rounds of funding from PE entities like Draper Fisher Jurvetson (DFJ), Granite Hill India Opportunity Ventures, Kalaari Capitals & debt funding from International Finance Corporation (IFC).

About Attero: 

Attero is India's largest electronics asset management company. Since its inception, Attero has been working to ensure a more sustainable future, while maximizing the value of all electronics assets, by promoting eco-friendly recycling. Attero is the only company in India with the capability to extract pure metals from end of life electronics. To deal with the problem of electronic assets, Attero offers various services including customized end-to-end solutions for e-waste management; electronics asset recovery, data security and pan India reverse logistics along with repair, refurbishment and retailing of electronics.

About Forum Synergies (India) PE Fund Managers:  

Forum Synergies is a unique and differentiated private equity fund manager headquartered in Bangalore. Forum Synergies team includes an elite list of industry leaders and brings tremendous depth and breadth of business leadership, operating expertise and industry networks. The focus is on investing growth capital primarily in SMEs and mid-market businesses in Engineering, Healthcare, Clean Technology and Information and Communication Technology (ICT). Forum Synergies looks for opportunities to add value to bring about a step change in the performance and growth of the investee company thereby delivering superior returns to the investors. For more information, visit http://www.forumsynergies.com.

For more information please contact
Lexicon Public Relations & Corporate Communications
Meera Krishnan / Sunita Buddhiraja
+91-9971500866 / +91-9971588200

SOURCE Attero and Forum Synergies

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
SYS-CON Events announced today that Catchpoint, a leading digital experience intelligence company, has been named “Silver Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Catchpoint Systems is a leading Digital Performance Analytics company that provides unparalleled insight into your customer-critical services to help you consistently deliver an amazing customer experience. Designed for digital business, C...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.