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Six industry veterans have come together to float a joint venture company - MaFoi Connecting Dots Advisory Private Ltd -that will offer end-to-end solutions targeting the manufacturing sector with special focus on SMEs.
The initiative is led by MaFoi Strategic Consulting Private Limited founder K Pandiarajan, who founded MaFoi - an HR solutions companies that was later sold to Netherlands-based Randstand. After selling the HR firm, Pandiarajan started MaFoi Strategic Consulting.
The other industry veterans are Ravindra Singh Singhvi, who resigned as MD and CEO of EID Parry India Limited, Balasubramaniam, former chairman of Sidbi, HC Kholay, ex-managing director of HAL Limited, D Satheesh Kumar, former COO of Tata Group company, Pradeep Chennamale, former head of strategic financial services, Dynamatic Technologies and V Sunder, former president of Dynamatic Technologies Limited.
While MaFoi Strategic will hold 59 per cent stake in the JV, others will hold the remaining stake, said Pandiarajan.
Speaking to reporters, he said, the new venture would focus on areas such as operationalising strategy, enterprise performance management, performance enhancement and transformation, manufacturing excellence, building advanced capabilities in defence, aerospace and on providing 360 degree solutions to SMEs.
V Sunder, managing director and CEO, MaFoi Connecting Dots, said the company had already roped in a few customers and was in talks with leading OEMs and hopes to finalise the deals soon.
The JV has joined hands with two technology companies -Levergent Technology India Private Limited and Kaar Technologies Private Limited - to offer MaFoi KaarNet Connect, a cloud-based supply chain portal, and MaFoi LevergentConnect, an enterprise manufacturing intelligence solutions, he said.
It plans to set up four offices by the year end and increase it to 48 offices and 500 employees across the country over the next 24 months. "We are targeting revenues of Rs 250 crore in the next three years," said Pandiarajan.
Pandiarajan said the new venture was in talks with PE investors to raise $5-7 million in the next three months. Besides the company is looking to start operations in Malaysia, Thailand and Detroit in the US.
