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
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and microservices. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your conta...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, 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. Meanwhile, 94% of enterpri...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, will discuss how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team a...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Intelligent machines are here. Robots, self-driving cars, drones, bots and many IoT devices are becoming smarter with Machine Learning. In her session at @ThingsExpo, Sudha Jamthe, CEO of IoTDisruptions.com, will discuss the next wave of business disruption at the junction of IoT and AI, impacting many industries and set to change our lives, work and world as we know it.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...