Pidilite Inds partners with 100X.VC for its venture arm

13 Sep 2022 , 09:32 AM

As a part of the partnership, 100X.VC will collaborate with Pidilite Ventures to identify strategic investment opportunities for them. Pidilite Ventures will aim to mentor and guide innovative businesses that have synergies with Pidilites core and adjacent businesses. 100X.VC is focused on discovering category defining businesses. 100X.VC also offers Venture Capital as a Service (VaaS) with a unique multi-stage investment thesis for category defining start-ups to help large corporations get access to research and innovation. While 100X.VC has the size, scale, track-record, relationships, and experience of transforming early-stage businesses into large ones, Pidilite has the experience and expertise in building winning brands in the space it operates in. This will offer a definite competitive edge to the portfolio companies. Apurva Parekh, Executive Director, Pidilite Industries, said, ?We are excited to partner with 100X.VC. They have been instrumental in identifying some compelling investment opportunities for Pidilite Ventures and we look forward to a long and fruitful association.? Pidilite Industries is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products and polymer emulsions in India. Its products range also includes paint chemicals, automotive chemicals, art materials and stationery, fabric care, maintenance chemicals, industrial adhesives, industrial resins and organic pigments & preparations. The company reported consolidated profit after tax of Rs 358 crore in Q1 June 2022, growing 64% over the same quarter last year. During Q1 FY23, consolidated net sales at Rs 3,091 crore grew by 60% over the same quarter last year. The scrip shed 0.13% to currently trade at Rs 2854.40 on the BSE. Powered by Capital Market – Live News