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India’s Happiest Minds inks $45m funding from Canaan, Intel Capital

16 Nov 2011

Bangalore-based IT services company Happiest Minds has secured a $45m Series A tranche of funding from a consortium of investors led by Canaan Partners, Intel Capital, IT industry pioneer Ashok Soota and the company’s founders.

Happiest Minds provides an integrated suite of design, implementation, testing, infrastructure management and security services to help businesses implement the right mix of IT solutions for growth. The company has customers in the US, UK and India, which it serves through five locations.

Alok Mittal, a managing director at Canaan India, said, “Happiest Minds has grown its global client base quickly based on a critical understanding of how emerging technologies are transforming businesses worldwide.

“Canaan recognises the huge potential of Happiest Minds to become one of the world’s foremost next-gen IT solutions and services companies, and we are excited to work alongside the stellar leadership team and the executive chairman Ashok Soota to help accelerate the company’s momentum worldwide,” he added.

Last month Canaan participated in a $30m round for OpenSky.com, a celebrity-curated website that allows members to design their ideal shopping experience. The round was led by Providence Equity Partners.

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