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How this Tirupur founder’s bootstrapped cloud tech startup was acquired by L&T Infotech for over Rs 100 Cr

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Siva S from Tirupur in Tamil Nadu used newspapers to bind his school books as his family could not afford to buy the brown paper. He also designed his own labels for the books. Impressed with his artwork, his classmates started paying him money for these labels.

The seeds of entrepreneurship were very much there in Siva right from his childhood, which eventually led to an exciting journey for the engineering graduate.

Siva’s four-year-old bootstrapped technology startup PowerupCloud was acquired by Larsen & Toubro Infotech (LTI) for $15 million (approx Rs 105 crore) in October this year. The startup had grown without any external funding.

Filings made with stock exchange reveal that PowerupCloud registered a revenue of $3.5 million for FY 2018-19, which gives the startup almost five-time valuation on its topline.

Humble beginnings

“My parents did not want me to start anything on my own since they wanted me to secure a job in a well-known MNC or go abroad,” says Siva.

Call it by design or destiny, there were other plans for Siva. Though he did work with a couple of large technology companies, which were cushy and well-paid jobs, he eventually did start out on his own. While working Siva realised that Cloud was going to be the next big thing in the area of technology with companies like Amazon Web Services entering India. He worked with a couple of smaller companies engaged with cloud technology to get a first-hand feel of this segment.

Read more at: https://yourstory.com/2019/11/bootstrapped-tech-startup-powerupcloud-larsen-tubro-infotech

LTI to acquire Powerupcloud Technologies

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A Premier Consulting Partner of AWS, Powerup bolsters LTI’s cloud consulting and digital transformation capabilities

Mumbai – October 17, 2019 – Larsen & Toubro Infotech Ltd. (NSE: LTI, BSE: 540005), a global technology consulting and digital solutions company is acquiring Powerupcloud Technologies Pvt. Ltd., a fast-growing cloud consulting company headquartered in Bengaluru, and helping clients across India, Singapore, UAE and USA. With more than 180 employees, Powerup brings a strong team of cloud consulting, artificial intelligence and data analytics professionals to LTI.

Founded in 2015, Powerup is a born-in-the-cloud, Premier Consulting Partner of AWS. It is the only AWS certified partner in APAC to have both Data & Analytics Competency and Machine Learning Competency, and one of the few certified partners of AWS with competencies across Migration, DevOps, Financial Services, Well-Architected, and Security & Compliance. With expertise across cloud, big data, artificial intelligence, and product engineering, Powerup is also a Gold Partner of Microsoft Azure and a Cloud Consulting Partner of Google Cloud Platform.

Powerup has executed over 150 projects in cloud transformation. Powerup would add two AI-based platforms to LTI’s powerful suite of offerings. CloudEnsure.io, an autonomous Cloud Governance Platform that continuously monitors an enterprise’s cloud services, detects security and compliance violations in real-time and recommends or executes appropriate fixes. The other platform is Botzer.io, an Enterprise AI Platform that helps organizations adopt AI faster across Natural Language Processing, Image Recognition, Deep Learning use-cases and saves time spent in trial-and-error experimentation.       

Sanjay Jalona, Chief Executive Officer & Managing Director, LTI, said: “We see a huge market opportunity for cloud consulting across all sectors and regions. Our clients are adopting the cloud to digitize their core operations and becoming data-driven organizations. Powerup strengthens our ability to partner with them in their cloud transformation journey. I welcome the customers, employees, and partners of Powerup to the fast-growing LTI family.”

Siva S, Founder & CEO, Powerup, said: “With its global customer base and agility, LTI makes the perfect home for the next phase of growth of Powerup. Our expertise across major public cloud platforms offers us an enormous opportunity to grow, learn, iterate and build well-engineered technology solutions for enterprises. We are excited about the potential for rapid growth and expansion with LTI.”

Powerup is the sixth acquisition by LTI since the company got listed in 2016 and fourth in this calendar year. Earlier in 2019, LTI acquired Ruletronics, a boutique Pega Consulting company, N+P (NEILSEN+PARTNER), a Temenos Wealthsuite specialist, and Lymbyc, an advanced analytics company.

About LTI:

LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 360 clients succeed in a converging world. With operations in 30 countries, we go the extra mile for our clients and accelerate their digital transformation with LTI’s Mosaic platform enabling their mobile, social, analytics, IoT and cloud journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us unrivaled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 30,000 LTItes enables our clients to improve the effectiveness of their business and technology operations and deliver value to their customers, employees, and shareholders. Find more at http://www.Lntinfotech.com or follow us at @LTI_Global

About Powerupcloud Technologies Pvt. Ltd.:

Powerup is a “born-in-the-cloud” company focused on helping businesses move to the cloud. The dynamic team at Powerup strives for customer satisfaction and delivers unmatched cloud consulting services to businesses with undivided attention and support. Our consulting team helps implement, migrate and optimize cloud applications for global corporations. We also help build Big Data analytics platforms to enable enterprises to extract more value from their environment. A Premier Consulting Partner with AWS, a Gold Partner with Microsoft Azure and a Cloud Consulting Partner of Google Cloud Platform, Powerup’s certified team is here to help customers achieve more on the cloud.

More information at https://www.powerupcloud.com

More Information:

LTI to Acquire Advanced Analytics Firm Lymbyc
LTI to Acquire Germany Based NIELSEN+PARTNER
LTI Acquires Ruletronics, a Boutique Pega® Consulting Company