The Hindu Business Line : WestBridge leads funding in Induslogic

WestBridge Capital Partners has announced it has led a $12.5 million Series B round in Induslogic, a provider of outsourced product development services.

Induslogic will use the cash infusion to expand ongoing marketing and sales initiatives, as well as support its merger and acquisition activities and to bolster its presence in product development services to software product companies.

WestBridge Capital Partners led the up round with a new investment by New Enterprise Associates (NEA) and participation from the mid-Atlantic arm of Draper Fisher Jurvetson.

Mr Sumir Chadha of WestBridge, who joined the Induslogic board, in a statement said: "We see a trend away from independent software vendors looking to create their own offshore captive development centres and see more and more companies leveraging partnerships with outsourced product development firms."

Mr Peter Harrison, CEO of Induslogic, said: "We leverage an agile distributed delivery model that has been our key to success in partnering with technology firms as they seek to globalise their R&D functions. We will continue to bolster our presence in India with newly acquired services and expertise."

Induslogic has two facilities in India and over 1,000 professionals worldwide.