US and India-based Ennoventure Inc, a SaaS platform providing device and process agnostic solution to track and authenticate brands, has raised $5 million in Series A funding from Fenice Investment Group, USA.
In April 2018, the company had raised $1 million in a seed round. Ennoventure’s key markets are South Asia, India and Africa and it plans to expand to the European and US markets. The Massachusetts-headquartered firm has its R&D centre in Bengaluru.
Founded by Shalini Nair and Padmakumar Nair in August 2018, Ennoventure will utilise this fresh capital towards expanding its team and go-to-market strategy across key markets globally. As part of its growth strategy, the company also plans to focus on India as it is a key market for the export of generic drugs.