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Six industry veterans, for the first time came together to float a joint venture company called MaFoi Connecting Dots Advisory Private Ltd, which will offer an end-to-end, holistic solutions, targeting manufacturing sector with a special focus on SMEs.
The new venture is also in talks with PE firms to raise money.
The new initiative is led by MaFoi Strategic Consulting Private Limited, founded K Pandiarajan, who founded MaFoi one of the leading HR solutions companies which was later sold to Netherlands-based Randstand. After selling the HR firm, Pandiarajan started MaFoi Strategic Consulting.
While, MaFoi Strategic will hold 59% stake in MaFoi Connecting Dots, other industry veterans including 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 will hold the remaining stake in the company, said K Pandiarajan, chairman, Ma Foi Strategy Consultants Pvt. Ltd
Speaking to reporters today, he said, the new venture will focus on areas such as operationalising strategy, enterprise performance management, performance enhancement and transformation, manufacturing excellence, building advanced capabilities in defence, aerospace and provide 360 degree solutions to SMEs.
Claiming that, no other consulting majors in India offer such offerings under one umbrella as we have consultants across many verticals with years of experience, expertise and management skills.
The new company's delivery model includes application of technology and industry experience. Towards this, we have joined hands with two technology companies including 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, said Pandiarajan.
The new venture will have four offices by the year end which will be increased 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 3 years, said Pandiarajan.
According to V Sunder, managing director and CEO, MaFoi Connecting Dots, the company will focus on aerospace, general engineering, auto components and defence verticals. The company already roped in a few customers and are in talks with leading OEMs and we hope to finalise the deals soon.
Pandiarajan said, the new venutre is in talks with PE investors to raise around $5-7 million in the next three months. Besides the company is also looking to start operations in Malaysia, Thailand and Detroit in the US.
