Mahindra & Mahindra Limited

Mahindra & Mahindra Limited engages in automotive components, trade, retail and logistics, financial services, information technology, infrastructure development, and after-market sectors in India and internationally. The company is an automotive business that manufactures and markets utility and light commercial vehicles, including two and three-wheelers. Its farm equipment business manufactures and sells agricultural tractors; sells DG sets and engines; provides supply chain services to retail, export, and domestic markets for fruits and vegetables, and food processing industries; and operates agri centers. The company was formerly known as Mahindra & Mohammad. Mahindra & Mahindra Limited was founded in 1945 and is headquartered in Mumbai, India.

Mitesh Shah

Senior Associate

Parag Chandulal Shah

Managing Partner

29 past transactions


Series A in 2007
LocaModa created, produced and managed multi-channel marketing programs for brands and agencies. LocaModa was venture backed and headquartered in Cambridge, MA. LocaModa was acquired by Monster Media.

d.light design

Series A in 2008
d.light design inc. designs, manufactures, distributes, and sells solar light and power products for households and small businesses worldwide. The company solar lanterns, home systems, and appliances. It serves customers through a network of importers, distributors, and retailers, as well as online. The company was founded in 2004 and is based in Palo Alto, California with additional offices in Shenzhen, China; Gurgaon, India; Nairobi, Kenya; Kampala, Uganda; and Lagos, Nigeria.

Centre for Sight

Venture Round in 2019
Centre For Sight Pvt. Ltd. provides eye care services for various disorders of the eye in India. It offers services in the areas of cataract, LASIK surgery, retina, glaucoma, cornea, pediatric ophthalmology, and oculoplasty and facial aesthetics; and keratoconus, neuro ophthalmology, pediatric ophthalmology, ocular oncology, eye bank, contact lens and low vision aids, pharmacy, and computer vision syndrome. The company was founded in 1996 and is based in New Delhi, India with additional office in New Delhi, India.


Series C in 2018
Porter aims to offer economical, efficient and reliable intra-city Transportation solutions to its customers. It helps e-commerce, FMCG, SMEs, traders, 3PLs, Courier, Cargo companies optimize their logistics with the help of our dedicated fleet and in-house technology. Porter started off as a platform to address inefficiencies in the last mile logistics sector and transform the way goods are transported around cities, enabling lakhs of businesses move anything on-demand. Our clientele includes ITC, Flipkart, Amazon, Furlenco, Delhivery, Aramex, Urban Ladder, Pepperfry, Parle Agro and many more.


Series B in 2019
Cloudleaf is a logistics and supply chain company that specializes in digital transformation, manufacturing, and pharmaceutical. It features a software platform that creates a digital twin of the supply chain and processes billions of events per second to deliver diagnostic and predictive insights in real-time for location, condition, utilization and anomaly detection. The company was founded in 2014 and headquartered in Milpitas, California.


Series A in 2017
Cloudleaf is a logistics and supply chain company that specializes in digital transformation, manufacturing, and pharmaceutical. It features a software platform that creates a digital twin of the supply chain and processes billions of events per second to deliver diagnostic and predictive insights in real-time for location, condition, utilization and anomaly detection. The company was founded in 2014 and headquartered in Milpitas, California.

Ssangyong Motor Company

Acquisition in 2011
Ssangyong Motor Company manufactures and sells automobiles and parts in South Korea and internationally. The company offers range of SUVs under the Rexton, Korando, and Tivoli brand name. It also engages in the sales finance activity. In addition, the company exports and sells its SUVs through approximately 1,500 sales outlets in approximately 126 countries. The company was founded in 1954 and is headquartered in Pyeongtaek, South Korea. Ssangyong Motor Company is a subsidiary of Mahindra & Mahindra Limited.

EPC Industrie

Post in 2011
EPC Industrie is a manufacturers and suppliers of all components of drip, sprinkler irrigation systems.


Series C in 2018
Zoom is India's first 100% self-drive focused car rental company (no chauffeurs). Zoom is a membership-based service that allows individuals to rent vehicles by the hour or by the day. The service is modeled after the hyper-local distribution and high-tech self-serve model used by Zipcar in the US. The Company commenced operations in February 2013. It currently operates in Bangalore, Pune, Mumbai, Chennai, Hyderabad, Delhi NCR, Kolkata, Chandigarh, Ahmedabad, Vizag, Jaipur, and Mysore.

Erkunt Traktor Sanayii

Acquisition in 2017
Erkunt Traktor Sanayii is makes iron castings and machined parts for farm, construction.


Series A in 2018
Avaamo is a deep-learning software company that specializes in conversational interfaces to solve specific, high impact problems in the enterprise. Avaamo is building fundamental AI technology across a broad area of neural networks, speech synthesis and deep learning to make conversational computing for the enterprise a reality.


Acquisition in 2015 was conceived to provide the online generation of modern Indian parents with the opportunity to access the best in pregnancy infant-care and mother-care products and services.

Gold Farm

Seed Round in 2017
Gold Farm provides farm equipment booking platform intended to empower the farming community. The company's equipment booking platform provides clean technologies for rural Indian power grid systems and farming equipment, providing farmers with affordable farming resources.
Hisarlar Makina Sanayi Ve Ticaret A.S. is engaged in the manufacture of agriculture and sports equipment, and trucks. Its products include excavator chassis and corners, engineering vehicle chassis, bus chassis, tractor safety cabins, soil cultivation machines, agricultural machines, cabins, and components. The company was founded in 1973 and is based in Eskisehir, Turkey.

Peugeot Motocycles

Acquisition in 2014
Peugeot Motocycles is a small motorcycles manufactures.


Corporate Round in 2018
CarSense is a tech company building products to make cars and bikes smarter and connected.

The East India Company

Private Equity Round in 2011
The East India Company Ltd. engages in the retail sale of food and beverages, hampers, and coins in the United Kingdom. It retails tea, coffee, chocolates, biscuits, specialties, accessories, gift hampers, and gold and silver coins. The company sells products through its retail stores, as well as online. The East India Company Ltd. was founded in 1600 and is based in London, United Kingdom.


Series B in 2019
Gamaya addresses the need to increase efficiency and sustainability of large industrial farming, as well as the productivity and scalability of small-holder farming, by deploying the world’s most advanced solution for mapping and diagnostics of farmland. Gamaya farmland analytics solution improves production efficiency and risk management by facilitating optimum decision making, including use of chemicals and fertilizers, and resulting in larger and better yields, while minimizing the impact on the environment.


Corporate Round in 2020
Aquasail is a boating company that offers global experiences in sailing in India. Aquasail offers an array of the most delightful experiences on a range of world class boats-fun and learning programs for individuals and families and powerful corporate programs for brand building and employee motivation.

Scoot Networks

Series A in 2016
Scoot offered shared, electric mobility-as-a-service, including electric mopeds, electric cars, electric bicycles, and electric scooters in San Francisco, Barcelona, and Santiago. In 2012, Scoot was the first company to offer electric vehicles for rent through a smartphone app. In 2019, Scoot was acquired by Bird.

Erkunt Sanayi A.S.

Acquisition in 2017
Erkunt Sanayi A.S. produces iron castings. The company was founded in 1953 and is based in Ankara, Turkey. As of December 1, 2017, Erkunt Sanayi A.S. operates as a subsidiary of Mahindra Overseas Investment Company (mauritius) Limited.


Series B in 2018
M.I.T.R.A stands for Machines, Information, Technology, Resources for Agriculture. They develop new machines to serve farmers growing “high value crops” like fruits and vegetables. In 2017, they have launched: Boom sprayer for vegetable and plantation crops, and India’s first fully automated Potato Harvestor Their patented machines combined with our “on-farm” sales and service are creating an unparalleled customer experience. They are building exciting new products for Indian farms and export markets, which will be launched in near future.
Medwell Ventures Private Limited provides specialty home healthcare services in India. It focuses on various therapeutic areas. The company offers various wellness and care programs ranging from preventive screening to home healthcare and palliative care. It provides bedside nursing care at home, as well as 24×7 medical services, such as physician consultation, nursing care, laboratory sample collection and reporting, physiotherapy, medical devices, ambulance services, pharmacy support, and related medical services. The company’s integrated healthcare delivery system serves customers across varied age and health profiles. Medwell Ventures Private Limited was founded in 2014 and is headquartered in Bengaluru, India.

TVS Automobile Solutions Ltd.

Corporate Round in 2020
TVS Automobile Solutions is a provider of car repair services in India.TVS Automobiles Solutions Ltd, operates a multi-brand car servicing chain under the MyTVS brand.TVS Automobile is part of the Chennai-based TVS Group.

Meru Cabs

Acquisition in 2019
Meru Cabs was one of the first companies to launch metered "Radio cabs" in India under its brand "Meru." First launched in Mumbai in April 2007, Meru Cabs has grown exponentially terms of fleet size and geographical presence. Customers benefit from a relaxed commute in a well equipped, air-conditioned cab, which is readily available 24/7. An e-bill receipt at the end of the ride assures the customer of tamper proof billing. Headquartered in Mumbai, Meru Cab provides a radio taxi service in the five key cities of India - Mumbai, Delhi, Hyderabad, Bengaluru and Jaipur. Meru Cabs delivers a reliable taxi service by concentrating on each touch point with its customers and devising systems, processes or technologies that will deliver a reliable interface. Meru Cabs uses GPS/GPRS enabled technology in all of the cabs to ensure complete passenger safety. The name "Meru" is derived from the symbolic mountain of the gods, an icon of unshakeable reliability and character - a core value which lies at the heart of Meru's promise to its customers.

Series D in 2016
FirstCry is an online portal for baby products and toys. They have over 20000+ items from 250+ top International and Indian brands like Mattel, Ben10, Pigeon, Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney, Barbie, Gerber, Zapak, Mee Mee, and so on. The company provides best of the products and brands at the best prices with quality online shopping experience, fast and reliable delivery service, and a prompt customer care. FirstCry was founded in 2010 and is based in Pune, India.


Series A in 2008
d.light is a global leader in delivering affordable solar-powered solutions.

G R Grafica Ricerca Design

Acquisition in 2008
G R Grafica Ricerca Design is a graphic design company


Series C in 2018
Resson Aerospace is a bioinformatics and data analytics company, delivering customized agriculture solutions for large corporate clients. Utilizing recent advances in large-scale cloud-based data processing, swarm robotics, and advanced data analytics, its proprietary Resson Agricultural Management and Analytics System gives the agricultural operator analytical insight and dynamic control over the farm area. Resson Aerospace’s Resson Agricultural Management and Analytics System, data-driven agriculture solution, analyzes crop metrics to assess crop status and health, providing operators with the information required to optimize agricultural operations, improve efficiency, boost yields, and maximize profitability. It is headquartered in Fredericton, N.B.