Instart Logic, a company revolutionizing cloud, web and mobile application performance, consumer experience and security, announced that it has raised a $30 million round of new investment capital, led by ST Telemedia. The new funds will be used to further global expansion and extend the company’s award-winning digital experience platform. With this new round, the company has now raised a total of $140 million in equity funding. The Instart Logic platform helps leading global brands increase their online performance. “We raised an additional $30 million to help even more global brands drive higher online revenue through improved, faster and safer consumer experiences,” explained Indian American founder and CEO Manav Mital. “Our clients typically enjoy 5 to 8 percent higher revenue via increased conversion, higher average order value and improved SEO rankings, plus up to 30 percent faster mobile and website performance.” Added Nikhil Eapen of ST Telemedia, “We see a massive opportunity to help Instart Logic continue the momentum for its unique cloud-based, artificial intelligence-driven digital experience platform.”
MetricStream Raises $65 Million
MetricStream Inc., a governance, risk and compliance applications and solutions firm, has completed a $65 million financing round led by Clearlake Capital Group L.P. MetricStream’s solutions improve business performance by streamlining and strengthening an enterprise’s risk management, corporate governance, regulatory compliance, vendor governance and quality management practices. Its solutions enable customers to navigate the complex regulatory landscape and ensure they are appropriately managing risk through a cloud-delivered platform. Its solutions significantly simplify GRC workflows by automating manual tasks, providing customers with a tangible return-on-investment, the firm said. MetricStream serves enterprise and mid-market customers around the world, across a variety of verticals including financial services, healthcare, energy and utilities, technology and more. “We appreciate the strategic investment from Clearlake Capital, EDBI, and our existing investors. We are also delighted to welcome Prashant (Mehrotra) to MetricStream’s Board of Directors,” said Gunjan Sinha, executive chairman of MetricStream.
AgriLife Researchers Receive $4.4M in Grants
Scientists with the Texas A&M AgriLife Research department received a $4.4 million grant from the U.S. Department of Agriculture’s National Institute of Food and Agriculture to research and improve the U.S. melon industry. About $35 million have been awarded nationally by the USDA to 12 projects across the country seeking to address the concerns of melon safety, according to a thebatt.com report. Bhimu Patil, a horticultural sciences professor and director of the AgriLife Research department’s Vegetable and Fruit Improvement Center, will head the project of collaborators from universities across the nation. “VFIC has been successful in teaching initiatives to increase awareness and effectively disseminate solutions to target audiences,” Patil said in the report. “A&M’s VFIC scientists will lead the nation partnering with melon growing states in the country.” The money was awarded to the university after the USDA-NIFA recognized the VFIC as a Center For Excellence in the field of U.S. melon research.
Mars Food Completes Purchase of Preferred Brands
Mars Food has finalized the acquisition of Preferred Brands International, a Stamford, Conn.-based, fully integrated manufacturer and marketer of all-natural, ready-to-heat Indian and Asian food products sold primarily under the Tasty Bite brand. Preferred Brands International has an Indian subsidiary in which it holds a majority stake, which is listed on the Bombay Stock Exchange and the National Stock Exchange of India. This subsidiary will continue to be listed after the acquisition. Tasty Bite's portfolio includes a wide range of vegetarian offerings, including Indian/Asian entrees, spice and simmer meal kits, and organic rice and lentils. While the majority of sales are generated in the United States, Preferred Brands International and its subsidiaries also manufacture products that are sold through retailers in the UK, Canada, Australia, and New Zealand and through foodservice in India. Tasty Bite® products are manufactured out of a facility in Pune, India, and the majority of its products are exported to the U.S.
Counsyl Celebrates Anniversary with New Financing
Counsyl announced 10 years of growth with $80 million in financing from Perceptive Advisors, a New York-based life sciences investment firm, and the addition of Lily Sarafan, CEO of Home Care Assistance, to the company’s board of directors. “We’ve dedicated the last decade to developing products and services that provide actionable information to guide women and their families as they make important health decisions,” said Ramji Srinivasan, co-founder and chief executive officer of Counsyl. “This financing will support our continued growth with an eye toward making expanded carrier screening as routine as taking folic acid, non-invasive prenatal screening as routine as an ultrasound, and hereditary cancer screening as well-known as a pap smear.” Since the company’s founding, Counsyl has championed key advances in screening for women and their families, screening more than 850,000 patients, serving more than 17,000 healthcare providers, and providing more than 60,000 genetic counseling sessions.
Cargill to Invest $240M in India
Cargill, a food and agriculture company, said it is investing $240 million in India over the next five years. These new investments will add to the food safety and economic development of the country and benefit the food processing and agriculture industries. The announcement was made at the World Food India Conference at a signing ceremony of a memorandum of understanding with India Ministry of Food Processing Industries in the presence of Union Minister of Food Processing Industries Harsimrat Kaur Badal. The added investment will be in Cargill's core businesses including edible oil, cocoa and chocolates, starches and sweeteners and animal nutrition in India. In addition, it will provide employment to 1,300 people and help farmers in the country. Last year, Cargill inaugurated its first wet corn milling plant in India set up with an investment of $100 million. The company also inaugurated a new dairy feed mill in Bathinda, Punjab. Cargill also opened its largest business services center in Bangalore in 2015 employing around 2,000 people.