Sachin Bansal has acquired the role of a crusader cum investors after his exit from Flipkart last year. The role eventually paved way for investment in plethora of startups, wherein Bansal’s special investment firm Navi Technologies (previously known as BAC Acquisitions) played an anchoring role. Now this investment firm has added yet another startup in its portfolio, MavenHive – a technology consulting firm headquartered in Bengaluru.
Navi Technologies has reportedly acquired MavenHive for undisclosed amount while other reports in the media are also indicating that this deal might be an acquhire. With both parties refusing to share financial details of the deal, there is a great deal of confusion about whether this is an acquisition or acquhire deal.
However, some information that are privy to Techpluto are devoid of any confusion, for instance MavenHive’s entire team including the co-founders – Bhavin Javia and Anandha Krishnan – will be joining Navi Technologies.
MavenHive claims to make awesome software, web applications and APIs for companies believing in ‘lean work’ culture. Companies that practice lean management culture usually do not bulk up too many employees and ensure productivity through minimum headcounts.
MavenHive’s freelancing team combined with its flexible freelancing team basically design efficient software, MVPs and APIS that help lean companies to grow faster and rapidly.
Meanwhile, MavenHive’s acquisition rounds up a productive year for Navi Technologies, which has invested in wide-range of startups in its first year itself. Some of high profile companies in its portfolio include BOAt, Vogo and Bounce. The investment company has also invested in several emerging Fintech companies like Altico Capital India and IndoStar Capital Finance.
Interestingly, Bansal’s investment company has invested in most of these startups through debt and not equity route. Flipkart’s co-founder has also invested in cab hailing major Ola in a personal capacity.
