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. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
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.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $14.1M
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First Round
First Round
(15 Apr 2008)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2025 | Amount | Series A - Mantra Softech | Valuation | India SME Investments |
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| May, 2009 | Amount | Angel Round - Mantra Softech | Valuation | Lata Bharat Sanghvi | |
| Apr, 2008 | Amount | Angel Round - Mantra Softech | Valuation | Lata Bharat Sanghvi |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Private equity fund focused on multiple sectors
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Founded Year | Domain | Location | |
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LB
Lata Bharat Sanghvi |
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Founded Year | Domain | Location |
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HB
Hiren Bhandari |
Angel investor and entrepreneur, focused on early-stage Indian startups
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Mantra Softech
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Mantra Softech
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Mantra Softech Comparisons
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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Crypto-based custody, trading, and lending services are provided to institutions.
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| domain | founded_year | HQ Location |
AI-based fraud prevention for e-commerce payments is provided.
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| domain | founded_year | HQ Location |
Provider of fraud prevention and payment validation for online retailers
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| domain | founded_year | HQ Location |
Identity verification solutions are provided for multiple industries digitally.
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| domain | founded_year | HQ Location |
Identity theft is protected and prevented through cyber monitoring services.
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| domain | founded_year | HQ Location |
Cloud-based fraud prevention solutions are provided for businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Mantra Softech
Frequently Asked Questions about Mantra Softech
When was Mantra Softech founded?
Mantra Softech was founded in 2006 and raised its 1st funding round 2 years after it was founded.
Where is Mantra Softech located?
Mantra Softech is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Who is the current CEO of Mantra Softech?
Hiren Bhandari is the current CEO of Mantra Softech. They have also founded this company.
Is Mantra Softech a funded company?
Mantra Softech is a funded company, having raised a total of $14.16M across 3 funding rounds to date. The company's 1st funding round was a Angel Round of $63.81K, raised on Apr 15, 2008.
How many employees does Mantra Softech have?
As of Oct 05, 2024, the latest employee count at Mantra Softech is 505.
What is the annual revenue of Mantra Softech?
Annual revenue of Mantra Softech is $33.03M as on Mar 31, 2023.
What does Mantra Softech do?
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.
Who are the top competitors of Mantra Softech?
What products or services does Mantra Softech offer?
Mantra Softech offers Fingerprint Scanner, IRIS Sensor, Access Control System, and Face Recognition Device.
Who are Mantra Softech's investors?
Mantra Softech has 4 investors. Key investors include Lata Bharat Sanghvi, Hiren Bhandari, Bharat R Sanghvi, and India SME Investments.
What is Mantra Softech's valuation?
The valuation of Mantra Softech is $208.73K as of May 2009.