Bangalore based Manthan Systems has secured $15Mn Series C funding from Norwest Venture Partners. As a result of this funding, Mohan Kumar, Executive Director at NVP, has joined Manthan's board of directors.

Manthan Systems will use the funds to launch new products and acquisitions.

Manthan Systems provides business intelligence and analytical solutions for the retail and consumer packaged goods industry. The BI solution comprises of products like merchandising analytics, finance analytics, customer analytics, supplier collaboration analytics. It's clientele includes McDonald's, Crocs, Ecco, Love's, Ashley Stewart, Teavana, Robinsons, Ripley, Woolworth, SM Retail, Mydin, Abenson, Haggen and GAME Group Plc.

Earlier in Nov’09, Manthan secured $15Mn Series B funding from Fidelity International, IDG Ventures India and DFJ ePlanet Ventures. to expand sales and marketing presence in its key markets. In 2007, it had raised $9Mn from IDG Ventures and DFJ Ventures in its first round of funding.

Norwest Venture Partners with more than $3.7Bn in capital makes early to late stage venture and growth equity investments across a wide range of sectors including: information technology, business services, financial services, infrastructure, technology enabled services and consumer.

This is NVP's fourth investment in past four months. In December, it invested $5Mn in six month old ecommerce startup - Pepperfry.com.

In November'11, NVP alongwith Intel Capital, Sequoia and Nokia Growth Partners invested $40Mn in Fashionandyou.com. It also invested $17Mn in FashionAndYou's sister concern DealsandYou.com along with Mayfield Fund, Nokia Growth Partners and Intel Capital.

It's other Indian investments include Quikr, Sulekha, Yatra Online, Komli Media, Persistent Systems, Ratnakar Bank, Sadbhav Infrastructure Project Ltd and Shriram Union City Finance. It is also an investor in NSE.

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