MUMBAI: Cornerstone Venture Partners Fund – I started by ex-Reliance Industries executives, Rajiv Vaishnav and Abhishek Prasad has invested $1 million each in two early stage B2B tech startups, Wigzo and IntelligenceNode Consulting.

Singapore and New Delhi based- Wigzo Technologies provides cloud based AI solutions for marketers to enhance customer engagement and improve investments on marketing spends.

Umair Mohammed, Co-founder & CEO, Wigzo, said “Cornerstone brings tremendous experience and expertise in scaling up companies via their network of GTM Partners.”

Cornerstone’s second investment of $1 million is in IntelligenceNode Consulting – a platform that helps retailers track billions of products and provides real time information on pricing, stock levels, trends, promotions, to help merchandizers improve their strategy and respond to market trends and demands.

“Cornerstone brings with it a huge network of corporates & investors that we can leverage to scale disproportionately. The team has already started opening the right doors for us, and with this, we plan to grow atleast 100% by 2020 and raise the next round of capital to support the exponential growth”, said Sanjeev Sularia, Co-founder & CEO, IntelligenceNode.

Nanika Kakkar, Investment Director at Cornerstone, said, “We have known Umair and Sanjeev for a while and seen how committed and patient they have been in building their respective companies as leading innovators in delivering measurable value for their customers. With significant customer traction and revenues achieved, this is the right time for us to come in and help drive the next phase of growth for these companies.”

Cornerstone is a sector agnostic US $70 million fund investing in technology areas of consumer and enterprise businesses. The fund will make five additional investments over the next quarter and is targeting 12-15 investments in the current fiscal year.

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