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
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
SYS-CON Events announced today that Carbonite will exhibit at 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. Carbonite protects your entire IT footprint with the right level of protection for each workload, ensuring lower costs and dependable solutions with DoubleTake and Evault.
SYS-CON Events announced today that EARP Integration will exhibit at 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. EARP Integration is a passionate software house. Since its inception in 2009 the company successfully delivers smart solutions for cities and factories that start their digital transformation. EARP provides bespoke solutions like, for example, advanced enterprise portals, business intelligence systems an...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assis...
In his session at 20th Cloud Expo, Brad Winett, Senior Technologist for DDN Storage, will present several current, end-user environments that are using object storage at scale for cloud deployments including private cloud and cloud providers. Details on the top considerations of features and functions for selecting object storage will be included. Brad will also touch on recent developments in tiering technologies that deliver single solution and an end-user view of data across files and objects...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at 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. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which i...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
IBM helps FinTechs and financial services companies build and monetize cognitive-enabled financial services apps quickly and at scale. Hosted on IBM Bluemix, IBM’s platform builds in customer insights, regulatory compliance analytics and security to help reduce development time and testing. In his session at 20th Cloud Expo, Tom Eck, Industry Platforms CTO at IBM Cloud, will discuss how these tools simplify the time-consuming tasks of selection, mapping and data integration, allowing developer...