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LivGuard raises Rs220 crore from ChrysCapital, Ncubate Capital

Bhavik Nair

Homegrown private equity fund ChrysCapital said on Thursday it has invested `170 crore in LivGuard, a company involved in the energy storing space that manufactures battery, inverters and stabilisers. The firm was started in 2014 by Rakesh Malhotra and Navneet Kapoor.
Apart from ChrysCapital s investment, the firm has also received investment worth `50 crore from Ncubate Capital Partners the investment arm of the SAR Group.

The investment will help LivGuard further accelerate its growth across all segments through expansion in manufacturing capacity, brand, distribution and innovation, it said.
The talks with ChrysCapital for the funding began late last year, according to a source aware of the deal.

Rakesh Malhotra, founder and mentor at LivGuard said the investment will accelerate the firm s existing business plans and develop future technologies. Since there is a space for strong player in the market, this investment will help us to grow further in this sector, he said.

Raghav Ramdev, director at ChrysCapital, said the firm is excited to partner with LivGuard. LivGuard has scaled well over the past few years and has built a strong pan-India distribution network along with an excellent manufacturing footprint, he said.

According to the release, LivGuard has annual revenues of close to `1,400 crore.
LivGuard is believed to have shown good traction in revenues and has likely recorded a growth of about 50% in fiscal year 2019 compared to the year before, according to the source.

The firm has stated on its website that it is operational in India, Nepal, Sri Lanka, Saudi Arabia, Yemen, Bahrain, Kuwait, Qatar, Oman, the UAE, Afghanistan, Kenya, Tanzania, Uganda and Zambia. The firm s products involves inverters, automotive batteries, solar solutions and stabilisers.

ChrysCapital is an India-focused private equity firm with approximately $4 billion in assets under management across eight funds. Since its inception, the firm claims to have deployed approximately $3 billion in over 80 investments across business services, financial services, manufacturing, healthcare and consumer sectors.