Summer heat in Sacramento can be stressful especially for air conditioning units in office buildings. Hank, a Roseville-based technology company, uses artificial intelligence to manage a building’s heating, ventilating and air conditioning system in the background, finding and fixing problems before any service call needs to be made. In 2016, Zach Denning, Hank’s founder and CEO, launched Hank (under the name EnerDapt) as an AI-powered analytics platform. The startup won a $150,000 grant through the California Energy Commission’s CalSEED (California Sustainable Energy Entrepreneur Development Initiative) program in 2017, and, after eight months of research and development, Hank began autonomously finding and
ChrysCap-backed Infogain begins talks to offload controlling stake
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Synopsis
The Infogain stake sale process includes the issue of new shares and the sale of stake by some existing investors, including ChrysCapital, at a valuation of $500-600 million.
iStock
Mumbai:Infogain Corp, the Silicon Valley-based digital platform and software engineering services firm backed by ChrysCapital, has begun preliminary talks with private equity funds and strategic investors to sell a controlling stake in the company at a valuation of $500-600 million (Rs 3,650-4,380 crore).
The transaction being discussed includes the issue of new shares and the sale of stake by some existing investors, said people in the know. ChrysCapital, a home-grown private equity fund, is expected to sell its majority stake. In 2015, ChrysCapital had invested $63 million to pick the stake in the California-headquartered Infogain.
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