The NBFC said it sees 'tremendous growth opportunity' with regard to India’s domestic consumption growth, going forward, and the capital raise will support the company's growth aspirations for next few years.
The software firm known for its advanced NoSQL database tailored for high-performance transactional and analytical operations, said the injection of funds signals confidence in Aerospike's product offerings and business performance.
Existing investors DSG Consumer Partners, Omnivore and Alkemi Partners also participated in the funding round.
The price range for the investment vehicle was set at 1.90 dirhams to 2.30 dirhams per share, according to a statement
Over the last five years, the country notched up the highest investment volume in Asia, according to research from the Global Private Capital Association, a body representing investors.
The company will raise funds on a private placement basis, Aditya Birla Fashion and Retail (ABFRL) said in a regulatory filing.
The board, in a meeting held on Monday, also authorised the increase in share capital from Rs 30 crore to Rs 50 crore, according to a regulatory filing.