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Certain co-investors/affiliates of MO Alternate Investment Advisors Private Limited (“MOAIAPL”) invested Rs. 250 Cr in VVDN Technologies Private Limited (“VVDN”/the “Company”), a Gurugram based company engaged in the business of Product Engineering and Electronics product manufacturing. In April 2023, an investment of Rs.350 Cr was concluded by India Business Excellence Fund IV (“IBEF IV”). Prior to this, India Business Excellence Fund III (“IBEF III”) had invested Rs 250 Cr in Jan 2020.

Established in 2007 by Bhupender Saharan, Puneet Agarwal, Vivek Bansal and Murali Jayraman, the Company is an integrated product engineering and manufacturing service provider with the ability to convert an idea / concept to final electronic product. The company has a large customer base including leading global semi-conductor companies and OEMs across multiple areas like networking &Wi-Fi, vision, IoT (Internet of Things), 5G and data center and cloud and mobile apps.  VVDN currently employs ~10,000+ people and has a global sales footprint across USA, Europe, Korea, Japan and India with 13 design/delivery centers globally and 7 manufacturing facilities located in India to service its customers. VVDN is also a big beneficiary of PLI schemes of where it has already received approval for 4 PLI schemes from the government. VVDN is one of the fastest growing engineering and manufacturing player out of India which is innovating for the next era using technologies such as NTN, Generative AI, Analytics, etc. Company has grown ~5X in the last three years from FY20.

Mr. Puneet Agarwal, Co-founder and CEO, VVDN Technologies, said, “This investment reaffirms MOAIAPL’s faith in VVDN and its business model. This investment will accelerate VVDN’s growth plans and help the company in hyperscaling the business. The funds would be utilized for further expansion of manufacturing facility and development labs which will help us serve our customers better, improve our capabilities and create value for all the stakeholders of the Company.”

Mr. Prakash Bagla, Managing Director and Head – Manufacturing sector at MOAIAPL commented, “We are very excited to extend our partnership with the Company. Our faith and trust on the management team has only accelerated post our first round of investment in Jan 2020. VVDN, driven by its product design & engineering and manufacturing capabilities, is uniquely positioned to provide an integrated solution for new age technology products and capture the upcoming growth. We are excited about the market opportunity for VVDN’s solution and remain confident on the team’s capabilities to scale the business. We intend to create a leader of global scale in the design and manufacturing of differentiated new age technology products.”

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