UK-based software-as-a-service platform InVentry on Tuesday said it has bought smart workplace management solutions provider Hipla Technologies Pte Ltd for an undisclosed amount.
InVentry said that the acquisition is a part of the company’s global expansion plan and will support its international growth strategy across the two geographies – Singapore and India – where Hipla Technologies operated.
The transaction will also help InVentry in improving its product portfolio and strengthen its presence as a provider of smart workplace solutions. It will also extend the services of Hipla Technologies to its existing customer base of over 10,000 organisations across education and business sectors.
“The acquisition fits perfectly with our growth strategy and positions us as a leader in the smart workplace industry. We believe Hipla Technologies' expertise, combined with InVentry's global reach and diverse product offering, will drive innovation and enable us to deliver unparalleled workplace solutions to businesses around the world," said Phil Lawson, director of InVentry.
Hipla Technologies, which also has offices in Kolkata, Mumbai, Delhi, Pune, Bengaluru and Hyderabad, was founded in 2019 by Sandeep Kaul.
“The acquisition helps to strategically position Hipla Technologies for accelerated growth by giving it access to global markets and a larger product portfolio,” said Kaul.
Hipla Technologies had raised less than $1 million in seed and Pre-Series A rounds from several angel investors, including Mousumi Ghosh, founder-director of Kolkata-based Future Medical and Research Trust, Ang Hiap Chee, a Singapore-based early-stage investor.
The company operates in the B2B and SaaS space across the high-tech, energy-tech, real estate, construction, and environmental sectors. Some of its customers include Prestige, People Strong, Whiteland, Sattva and ATS.
