Cloud-based IT platform NextGen raises funding from Mumbai Angels and Others


Bangalore based IT platform NextGen PMS Pvt Ltd., which owns and operates technology enabled CSR & sustainability management company, NextGen, has raised an undisclosed amount of funding through a syndicate between Mumbai Angels and a group of unnamed strategic investors, based in India and the Silicon Valley.

The funds raised will be used for customer acquisition, augmentation of its technology base and other expansion plans.

Redbus cofounder Phanindra Sama led the round for Mumbai Angels. Phanindra and and retail industry veteran Bejou Kurien will join the board of the company.

NextGen has developed – p3, a cloud- and mobile-based CSR and sustainability management platform that helps companies track, monitor, evaluate and report on their CSR and sustainability performance. p3 has been developed by NextGen, jointly with Mindtree, an IT solution expert. This tool helps in management of development capital while also measuring the impact. It is also compliant with Section-135 of Companies Act 2013 (India), GRI-G4 Guidelines, UNGC, CDP and a host of other global reporting frameworks. With these unique roots, p3 ensures that the user gets the best deal on both the technology and sustainability front.

NextGen was founded by Abishek Humbad and Richa Bajpai in 2009. Abhishek has done his MBA from IIM Bangalore and engineering from BITS Pilani. Richa has done her management program from IIM Bangalore and engineering from Rajasthan University.