Mahindra's Bristlecone eyes Indian startups for acquisition
Image Courtesy: Bristlecone

Mahindra’s Bristlecone eyes Indian startups for acquisition

Bristlecone, the supply chain management and analytics advisory firm owned by the Mahindra Group, is looking to acquire Indian startups as a part of its expansion strategy.

According to Bristlecone’s President and CEO, Irfan A Khan, the company is in lookout for startups in the analytics and the internet-of-things space to grow its business. “We have looked at four or five companies this year and we may take steps by the end of this financial year. We’ve even looked at two Indian startups. They are in a very early stage but we will keep an eye on them, especially the leadership,” Khan told an online daily.

Notably, the company, which is rated by Gartner as among the top ten system integrators in the supply chain space, is targeting a billion dollar valuation through organic channel in the next three to four years.

The company, according to Khan, is willing to seize the opportunities created by Indian innovation ecosystem and what better time than today when the funding and valuation frenzy in the Indian startup ecosytem has been calmed down. Now, it is easier to evaluate the companies on its fundamentals and not get swept away by the hype, Khan added.

 To recall, Indian startups took a major blow from venture capitalists shrinking their investments in the first six months of 2016 than a year ago. The startups were shown the way by investors to test their fundamentals after a period of extravagant funding between July 2014 and October 2015.

The Mahindra Group acquired a majority stake in Bristlecone in 2004. The company projects to grow at 20-30% year-on-year and expects to reach $1 billion by 2020.

About Bristlecone
Image Source: LinkedIn

Bristlecone is a supply chain and business analytics advisor, serving customers across a wide range of industries. Rated by Gartner as among the top ten system integrators in the supply chain space, it is uniquely positioned to solve contemporary supply chain problems, with supply chain and analytics focus as their our advantage.

Based out of the Silicon Valley, Bristlecone’s global team of 1500+ business advisors helps companies rapidly optimize the strategic value of their supply chains through enabling technologies. It solves business problems for hundreds of clients across the globe through supply chain and procurement consulting, advanced real-time analytics, implementation of end to end solutions, integration services, data and information management, cloud and mobility solutions, technology support, and managed services.

Bristlecone is part of the $16.9 Billion Mahindra Group. Mahindra employs more than 200,000 people in over 100 countries throughout the world. What began as a steel company after WW2, Mahindra today is involved in operations across a host of industries and is well on its way to becoming one of the 50 most admired global brands.

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