- Deal amount not disclosed, Maven hive’s team becomes part of Navi Technologies
- Maven hive invests in Navi Technologies start-ups for seven years, company
- Flipkart co-founder Sachin Bansal launched Navi Technologies last year
Sachin Bansal’s company Navi Technologies has bought tech consulting firm Maven hive. Flipkart co-founder Bansal gave this information on Thursday. However, the deal did not say the amount. This acquisition will strengthen the start-up services of Navi Technologies.
Maven hive also consulted Flipkart
Navi Technology helps startups and invest in them. It can use Maven hive to create tech applications for the growth of its investment firms. Maven hive is a seven-year-old company. It helps clients in software development, system integration, app development, and data analytics. It has given consultancy to companies like Flipkart, Goljek, Grasshopper, and Scripbox.
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Both founders of Mavenhive – Bhavin Javia, Anand Krishna and a team of 40 people have now become part of Navi Technologies. Javia and Krishnan started Mavenhive in 2012. Javia has 15 years of IT consulting experience in different firms. Krishnan has created many big apps. Javia and Krishnan had been at the global software delivery and consulting firm ThoughtWorks for a long time.
A few months after leaving Flipkart last year, Sachin Bansal formed BAC Acquisitions Company. In December 2018, they renamed it Navi Technologies. He started this venture with his IIT partner Ankit Aggarwal to invest in start-ups. Bansal has recently invested Rs 888 crore in Navi Technologies.
Bansal bought a large stake in non-banking financial services company Chaitanya India Fin Credit in September for Rs 740 crore. He became the CEO of this firm. US retail giant Walmart bought 77% of Flipkart’s shares in May last year for $16 billion. Sachin Bansal exited the company by selling the entire 5.5% shares in Flipkart.
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