India’s iYogi secures $28m in Series E round


india-bangalore_sqIndian remote tech support services provider iYogi has secured $28m in a Series E round backed by investment firms Axon Partners Group and Madison India Capital.

IYogi said that its existing investors also participated in the round, which is expected to help the company double its revenues in the next 24 months.

The company recently launched its services in Spain via a partnership with Telefonica and established a service delivery centre in the country.

Axon president Francisco Velázquez de Cuéllar said, “Axon is very pleased to be working with iYogi, further expanding our technology portfolio in India. We have been impressed by iYogi’s technology, energy and professional management.

“Technology is one of the hot investment areas and is one of Axon’s core investment focuses worldwide, so we believe that iYogi represents a great opportunity for our investors.”

Other companies backed by Axon include Barcelona-based social gaming business Akamon Entertainment, which raised €2.8m in an investment round led by the firm last year.

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