Premji Invest, the investment branch of Azim Premji’s endowment and philanthropic enterprises, has invested in India’s largest CPaaS provider Tanla Platforms Ltd, the company’s CEO Uday Reddy declared on Tuesday.
“We welcome Premji Invest to our list of marquee investors. Mr Azim Premji is a luminary best known for building global businesses and a gold standard for corporate governance and philanthropy. Look forward to this association into the future!” Uday Reddy said in a tweet.
We welcome Premji Invest to our list of marquee investors. Mr.Azim Premji is a luminary best known for building global businesses, and a gold standard for corporate governance and philanthropy.Look forward to this association into the future!
— Uday Reddy (@udaydasari) November 16, 2021
The type of investment and the expense is not revealed. Tanla Platforms concocts above 800 billion interactions yearly, and about 63% of India’s A2P SMS traffic is processed through Trubloq, making it one of the world’s most notable Blockchain use cases.
The Hyderabad-based company has newly recorded a 67% year-on-year growth in net profit at ₹136 crores, while income from services increased 44% year-over-year to ₹841 crores. Premji Invest has been engaged in funding in the Indian markets for above ten years. The centre of the properties has been to develop medium-sized Indian companies into big companies that can rival globally.
Investments of Premji Invest is beyond divisions like consumer, financials, technology, and manufacturing and involves brands like Fab India, Hygienic Research, ID foods, Lenskart, Policy Bazaar, Flipkart, Gold Plus Glass, and Shubham Housing. On Tuesday, Tanla Platforms shares jumped to 5% to conclude at ₹1,325.95 on NSE.