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Mumbai Angels announces investment in Algorhythm, Pune based supply chain company

Wednesday July 14, 2010 , 2 min Read

Mumbai Angels, India's premier group of angel investors, has announced its investment in Algorhythm Tech Pvt Ltd – an

innovative and fast growing Pune based company, making waves in the SupplyChain Solutions space across the country. Algorhythm has created a unique positioning for itself as a rare, true blue Indian company with a proprietary Software Platform (rhythm) embedded with a very powerful Advanced Optimization Engine (xtra sensory) for customizing highly effective Supply Chain Solutions for various industries.

The amount invested or stake taken were not disclosed.Algorhythm was boot strapped by Mr. Ajit Singh (Chief Software Architect), Mr. Sandeep Pendurkar (COO) and Mr. Abhaya Borwankar (CEO) and has become a trusted name over the years under the Chairmanship of Mr. GuluMirchandani (owner of MIRC Electronics) when it comes to Supply Chain Solutions with Industry-leading clients like Unilever, Nestle, Coca Cola, GSK, SAB Miller, Reckitt Benckiser in the CPG space, and Essar Steel, Uttam Galva, Thyssen Krupp, Mukand Ltd. etc. in the Metals space.

Their Solutions span the strategic, tactical and operational levels of supply chains in these industries and are innovative,

comprehensive and highly effective.Algorhythm's strengths lie in great team, cutting-edge technology and in-depth

knowledge of how Supply Chains work. It’s a powerful combination of consulting backed by proprietary technology.

Commenting on the investment, Mr.Sandeep Pendurkar (COO) said, "The investment from Mumbai Angels will

bring great strategic benefits to Algorhythm as the investors are individuals with tremendous experience of various types of businesses and wide ranging contacts.

The forum has made many successful investments in the recent past and we look forward to a very rewarding and mutually beneficial relationship with them. We were delighted by the professional way in which the entire case was handled and the swiftness with which decisions were taken by Mumbai Angels. We are happy to get Mumbai Angels as a partner at a time when the company is just beginning to take off on an upward path and the finance will go a long way in enabling us to achieve our objectives".