US-based serial tech-entrepreneur invests $5mn in Punjab startup Isos Inc
Portland-based serial tech-entrepreneur, Nitin Khanna, has invested US$ 5 million in a Punjab startup Isos. Nitin Khanna was the founder, Chairman and CEO of Saber Corp., one of the largest providers of state government solutions in the United States.
Nitin cofounded Saber in July 1998 and helped grow it to 1200 employees and over $120MM in revenue by 2007 when it was sold to EDS for $460MM. Isos, the investee company is into developing productivity enhancement solutions like smart attendance, real-time tracking and monitoring, inventory management, cashless transactions, security management etc. The company was also awarded “Innovative Idea of the Year” by Tiecon Chandigarh 2017.
“Indian start-up eco-system has gotten the attention of the world. The best part about India is that tech entrepreneurship is abound in Tier 2 cities as well from where some very brilliant ideas and services have made successes as startups. With productivity being the key for most companies, Isos serves an essential need and we see growth in this segment”, said Mr. Nitin Khanna, who is also the CEO of MergerTech an M&A firm based out of Oregon, Portland.
“After working as an investment banker overseas, I have come across many potential start-ups around the globe, but the zeal and commitment showcased by the Indian entrepreneurs, hailing from small towns is amazing. Today, investors are much more willing to invest in start-up, but the problem is identifying the right start-up to invest and scale it has been the area of my expertise”, Mr. Khanna added.
In terms of total number of startups, comprising both tech and non-tech areas, India again figured among the five largest hosts in the world, along with China (10,000 each). India is home to third largest number of technology start-ups in the world, with the US and the UK occupying the top two positions, according to study by ASSOCHAM in association with Thought Arbitrage Research Institute.
The Smart attendance system and real time tracking with monitoring is likely to be presented to Prime Minister Narendra Modi shortly. The software can be deployed in campuses, government hospitals, offices, and industries.