Novavente Secures $3 Million in Funding Led by Highbrow Securities, Plans Global Expansion and IPO

Sales consulting firm Novavente has secured $3 million (approximately Rs 25 crore) in a fresh round of equity funding. The investment was led by Mumbai-based investment bank Highbrow Securities. The funds will be used to fuel Novavente's expansion plans, enhance its offerings and services, and boost its headcount, the company announced on Wednesday.

"Over the last nine years, we have grown steadily and profitably year-on-year. Now, we are excited to have Highbrow Securities as a strategic partner and advisor during the next phase of growth and global expansion," said Ronak Rajan, founder and CEO of Novavente. "As we approach our IPO, their support and advice will be essential in helping us achieve our long-term goals."

The partnership with Highbrow Securities is also expected to enhance Novavente's market credibility as it prepares for a public listing on the London Stock Exchange.

Founded in 2016, Novavente is a consulting firm that offers sales and marketing services to businesses. It specializes in global sales enablement and demand generation, focusing on technology and customer-centric approaches. The company utilizes artificial intelligence (AI), machine learning, sales automation, and research-driven strategies to help clients expand in current markets and explore new geographies.

Novavente serves Fortune 500 companies, large enterprises, and startups across the US, Europe, UK, Middle East, and Asia Pacific. Some of its clients include ONGC, LTIMindtree, Viacom18, Jio Cinema, Sodexo, and Alibaba.

Highbrow Securities is known for its high-risk, late-stage investments in small and medium-sized enterprises (SMEs). 

Beyond its core business, Novavente has also invested in developing generative AI products and services, including its investment in Thought Minds Systems, a startup specializing in generative AI.

"In today's rapidly evolving market, sales acceleration is the future, with the industry projected to grow globally at nearly 15% CAGR. Generative AI will be transformative, becoming the new industry standard. Novavente is at the forefront of this shift, poised for exceptional growth. As they prepare for their IPO, Novavente offers a compelling high-growth narrative," said Tarun Singh, managing director at Highbrow Securities.

With this significant investment, Novavente is set to strengthen its position in the sales consulting sector and drive its ambitious global expansion plans forward. The partnership with Highbrow Securities not only brings financial support but also strategic guidance that will be crucial as Novavente moves toward its goal of a successful IPO on the London Stock Exchange.