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Joint company brings Motivity's Power of Innovation Labs to F500 Organizations
HYDERABAD, India, April 15, 2020 /PRNewswire/ -- Naya Ventures (www.nayaventures.com), an early-stage venture capital firm investing in AI, IoT, Cloud and other emerging technologies, announced another successful exit for one of its portfolio companies. Naya Ventures has sold its stake in Motivity Labs to JNIT. Co-founded by Dayakar Puskoor, the Dallas based Naya Ventures portfolio companies' enterprise value exceeds US$1 BB as it is fast becoming a venture capital platform that enables start-ups for early success while aspiring to accelerate returns for investors.
Motivity Labs (www.motivitylabs.com) with offices in Irving/Dallas and Hyderabad, India is known for pioneering "Power of Innovation Labs" that enables large Fortune 500 firms and local governments to accelerate innovation. In connection with Naya's transaction, Motivity was merged with US based JNIT (www.jnitinc.com), a subsidiary of Magellanic Cloud, listed in Bombay Stock Exchange, India (BOM: 538891). JNIT is an IT Consulting and Solutions firm with operations in US & India with over 650+ employees.
According to Dayakar Puskoor , Managing Partner for Naya Ventures, "We provide capital, mentoring, networking, business development, accelerate value creation for all stakeholders including the start-ups and investors."
"We at JNIT are excited to welcome the 400-person strong Motivity Labs team, the combined team shall double-down in its efforts to deliver world class innovation to F500 companies," said Joe Thumma, CEO of the merged company. According to Prabhakar Reddy, former CEO of Motivity Labs, the successful exit of Motivity Labs is a testimony to Naya Ventures mantra of "Leading by Collaboration".
Naya Ventures had earlier announced the successful exit for yet another of its portfolio companies Altia Systems acquired by GN Audio/Jabra for US$125M, which resulted in significant return to Naya and its investors. Thus far, Naya Ventures has had five successful exits. Naya Ventures provides extensive support for portfolio companies through co-investments from Silicon Valley investors, participation in incubator & accelerator programs, speaking and networking opportunities at industry and business conferences. Naya Ventures philosophy has been to Invest, Engage, Collaborate, Grow and Exit.
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About Naya Ventures
Naya Ventures is an U.S. and India based venture capital firm investing in early stage B2B companies. Founded with the thesis of being a fund consisting of entrepreneurs investing in entrepreneurs, Naya helps its portfolios through hands-on support in the areas of product and market development. Naya has invested in over 20 companies and has generated five exits to date. Some examples of Naya's value add model include: Kore.ai, Altia Systems (Acquired for $125M), Hyperverge, Docsynk, CoreStack, Amplifai and others. Naya's portfolio enterprise value exceeds $1B, and the fund is actively investing in ambitious entrepreneurs looking to partner with investors who have been in their shoes. For more information, please visit: www.nayaventures.com.