Ah! Ventures announced on Wednesday that it has exited its investment in Entropy Innovations that it had made a year ago. Ah! Ventures along with Mark Mobius, executive chairman of Templeton Emerging Markets and AdvantEdge Incubator had invested in Entropy Innovations in June 2015. The company has bought back the stakes from all the investors.
Founded in early 2013, Entropy Innovations is an engineering innovations company operating in the two wheeler service industry. It has designed and manufactured automatic motorcycle wash machine – ‘Express Bike Wash’ that addresses problems faced by an individual owner as well as a service station.
Besides consumers, the product has also been successful with companies like Royal Enfield, Honda and Hero. Harshad Lahoti, CEO of ah! Ventures, said, “In times when exits are hard to come by, the investors have got a good return and the founders got to consolidate their shareholding. Our belief in the product, the service and the entire effort of revamping bike care & maintenance, made us invest in the enterprise last year. The clarity with which the team understood the niche market, instilled our trust in the start-up and now this exit clearly makes us appreciate that decision of ours. We wish the Entropy team tremendous success in the future.”
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