About Mantra Softech
Mantra Softech is a company based in Ahmedabad (India) founded in 2006 by Bhavyen Bhandari and Hiren Bhandari. Mantra Softech has raised $14.16 million across 3 funding rounds from investors including Lata Bharat Sanghvi, Hiren Bhandari and Bharat R Sanghvi. The company has 505 employees as of October 05, 2024. Mantra Softech offers products and services including Fingerprint Scanner, IRIS Sensor, Access Control System, and Face Recognition Device. Mantra Softech operates in a competitive market with competitors including BitGo, Riskified, Signifyd, Yoti and LifeLock, among others.
- Headquarter Ahmedabad, India
- Employees 505 as on 05 Oct, 2024
- Founders Bhavyen Bhandari, Hiren Bhandari
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Sectors
Industrial Goods & ManufacturingFinancial Services Technology
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Email
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Phone
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Website
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Social
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- Legal Name Mantra Softech (India) Private Limited
- Date of Incorporation 06 Apr, 2006
- Jurisdiction Ahmedabad, Gujarat, India
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Annual Revenue
$33.03 M (USD)0as on Mar 31, 2023
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Net Profit
$3.45 M (USD)0as on Mar 31, 2023
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EBITDA
$5.09 M (USD)0as on Mar 31, 2023
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Total Equity Funding
$14.16 M (USD)
in 3 rounds
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Latest Funding Round
$14.09 M (USD), Series A
Nov 05, 2025
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Investors
India SME Investments
& 3 more
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Employee Count
505
as on Oct 05, 2024
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Products & Services of Mantra Softech
Mantra Softech offers a comprehensive portfolio of products and services, including Fingerprint Scanner, IRIS Sensor, Access Control System, and Face Recognition Device.
Device for secure fingerprint authentication and verification
Sensor for iris-based identity recognition and access control
System for managing entry with biometric verification
Device for facial authentication in security applications
Funding Insights of Mantra Softech
Mantra Softech has successfully raised a total of $14.16M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $14.09 million completed in November 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Mantra Softech
Mantra Softech has secured backing from 4 investors, including angel and venture fund investors. Prominent investors backing the company include Lata Bharat Sanghvi, Hiren Bhandari and Bharat R Sanghvi.
| Investor | Description | Founded Year | Domain | Location |
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Private equity fund focused on multiple sectors
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Lata Bharat Sanghvi |
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Hiren Bhandari |
Angel investor and entrepreneur, focused on early-stage Indian startups
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Investor details for Mantra Softech
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Investments & Acquisitions by Mantra Softech
Investment portfolio details for Mantra Softech
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Financial Statements - Mantra Softech
Detailed financials for Mantra Softech
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Mantra Softech Comparisons
Peer comparison for Mantra Softech
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Competitors of Mantra Softech
Mantra Softech operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as BitGo, Riskified, Signifyd, Yoti and LifeLock, among others.
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Crypto-based custody, trading, and lending services are provided to institutions.
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AI-based fraud prevention for e-commerce payments is provided.
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Provider of fraud prevention and payment validation for online retailers
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Identity verification solutions are provided for multiple industries digitally.
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Identity theft is protected and prevented through cyber monitoring services.
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Cloud-based fraud prevention solutions are provided for businesses.
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Detailed competitors of Mantra Softech
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Latest news on Mantra Softech
Complete news archive for Mantra Softech
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Frequently Asked Questions about Mantra Softech
Mantra Softech was founded in 2006 and raised its 1st funding round 2 years after it was founded.
Mantra Softech is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Hiren Bhandari is the current CEO of Mantra Softech. They have also founded this company.
Mantra Softech is a funded company, having raised a total of $14.16M across 3 funding rounds to date.
As of Oct 05, 2024, the latest employee count at Mantra Softech is 505.
Annual revenue of Mantra Softech is $33.03M as on Mar 31, 2023.
Founded in 2006 in Ahmedabad, India, Mantra Softech operates in the biometrics and RFID sector. Products such as fingerprint sensors, IRIS sensors, integrated devices, POS terminals, and financial systems are provided. Security solutions encompass access control, enterprise systems, smart city applications, and airport integrations, suitable for SMEs and large enterprises. Citizen identification systems and Aadhar-compatible biometrics are also supplied, with Android platform availability.
Mantra Softech offers Fingerprint Scanner, IRIS Sensor, Access Control System, and Face Recognition Device.
Mantra Softech has 4 investors. Key investors include Lata Bharat Sanghvi, Hiren Bhandari, Bharat R Sanghvi, and India SME Investments.
The valuation of Mantra Softech is $208.73K as of May 2009.