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Premji Invest, the investment arm of Azim Premji's endowment and philanthropic initiatives, is said to have invested in India's largest CPaaS provider Tanla Platforms Ltd, the company's CEO Uday Reddy announced on Tuesday.
"We welcome Premji Invest to our list of marquee investors. Mr. Azim Premji is a luminary best known for building global businesses, and a gold standard for corporate governance and philanthropy. Look forward to this association into the future!," Uday Reddy said in a tweet.
The nature of investment and the amount is not disclosed.
Tanla Platforms processes more than 800 billion interactions annually and about 63% of India’s A2P SMS traffic is processed through Trubloq, making it the one of the world’s largest Blockchain use case.
The Hyderabad-based company has recently reported a 67% year-on-year growth in net profit at ₹136 crore, while revenue from operations rose 44% year-over-year to ₹841 crore.
Premji Invest has been active in investing in the Indian markets for over ten years. The focus of the investments has been to grow medium-sized Indian companies into large companies that can compete globally.
Investments of Premji Invest is across sectors like consumer, financials, technology, and manufacturing and includes brands like Fab India, Hygienic Research, ID foods, Lenskart, Policy Bazaar, Flipkart, Gold Plus Glass, and Shubham Housing.
On Tuesday, Tanla Platforms shares were up 5% to close at ₹1,325.95 on NSE.
