Mumbai Angels and others fund student startup NextGen. The company is India’s leading corporate social responsibility and sustainability management company. NextGen was incubated at NSRCEL, Indian Institute of Management, Bangalore and TBI, Birla Institute of Technical Sciences, Pilani.
The company has developed their first CSR and Sustainability Management IT platform called p3 – People, Planet, and Profit jointly with Mindtree. This tool helps in management of development capital and its impact. The platform is compliant with Section 135 of Companies Act 2013 of India, GRI-G4 Guidelines, UNGC, CDP and many other global reporting frameworks.
NextGen p3 is the most comprehensive enterprise wide sustainability and CSR IT platform on Cloud. It’s named after three pillars of organisational stability: People, Planet and Profit. The platform satisfies all the CSR and sustainability requirements of any organization, of any size, industry and region.
The cloud based platform accessible from across the world helps the users to collect, curate and communicate their sustainability and CSR efforts at click of a button. The feature of p3 helps its user understand the CSR and sustainability performances of their company, stay informed and take necessary action based on associated threats and opportunities.
The platform is extremely versatile and can be tailor made to the needs of any organization. Generation of reports is easy and can be generated in various formats such .doc, .xls or PDF too. The charts from these can be exported to the final reports. The p3 platform is cost effective and scalable to the needs of the organization no matter the size. Audit trial can be maintained of all the activities on the platform.
On the p3 platform reporting has been integrated with collation of data at once. The platform is flexible, can be integrated into existing ERP systems such as SAP. Exchange of data is seamless and data can be imported through charts, excel or word files.
Another feature ofp3 is that it can be deployed in cloud or in the premises of organization. The platform reduces the overheads of CSR Projects, increase transparency and uses data to ensure maximum impact for end customers.
NextGen was founded in 2009 by Abhishek Humbad and Richa Bajpai during their graduation days. NextGen is owned and operated by NextGen PMS Pvt Ltd. Richa Bajpai is Co Founder of NextGen. She has done her Bachelor of Engineering (Hons) in Electrical from University of Rajasthan and she attended Management program for Women Entrepreneurs conducted by Indian Institute of Management, Bangalore in 2009.
She was Radio Jockey and Assistant Producer for 93.5S FM for 3 months in 2009. Prior to stint in 93.5S FM, she was an Anchor in Bhaskar TV (Dainik Bhaskar group). She hosted several shows on career counselling, life, mental health, celebrity special and many other shows. Richa Bajpai is founding member and secretary of Aviral Athak Prayas, an organization focuses on education of children of migrant workers at various construction sites. Richa has been awarded with Forbes 30 under 30 in February 2014 and ELLE 25 Game Changers by ELLE India in November 2012.
Abhishek Humbad is co founder at NextGen PMS Pvt Ltd. He has graduated in Bachelor of Engineering in Electronics and Electrical from Birla Institute of Technology and Science, Pilani. He is ex alumni of Indian Institute of Management, Bangalore.
Abhishek is founder and President of Wall Street Club, BITS Pilani. He involved in taking investment decisions for India’s first student investment fund –QUESTUS. He developed new research techniques, co coordinating activities, interaction with alumni and industry experts. He managed a group of 35 student investors. Prior founding of NextGen, he was a Fund Manager of the QUESTUS fund too.
The company received an undisclosed amount of funding through a syndicate of investors headed by Mumbai Angels and unnamed strategic investors. Phanindra Sama, co founder of redBus and Bejou Kurien join the Board of NextGen.
“NextGen is amongst the few product companies in India that can scale well in the global market too. Through the cloud and mobile based p3 platform, we see a huge potential for them to become a global market leader,” said Phanindra Sama after funding.
“The young and passionate team at NextGen has shown great execution skills with a proven track record of working with large clients and delivering value through technology. The p3 platform is a win-win for all stakeholders,” said Bijou Kurien.
Executive Director and Chief Operating Officer of Mindtree Parthasarathy NS said “The passion and conviction of the founders persuaded us to work with them to build p3. Strong domain knowledge coupled with strength in technology got great traction from marquee clients and this combination provides an excellent foundation for high growth.”
“India’s new CSR Law has acted as a catalyst and has opened up a huge domestic market for NextGen. Managing development projects and measuring impact is a growing trend globally. The NextGen platform is one of its kind in the global marketplace,” added Sunil Chandiramani, ex national director of EY and one of the investors in NextGen.
“With many countries making CSR spend and ESG disclosure mandatory, and increasing pressure from stakeholders to track, target and trace billions of dollars of development capital transparently, a huge market has opened up for technology for good globally, and NextGen has a clear first moved advantage.” Said Basab Pradhan, ex Infoscion and another investor of NextGen based out of Silicon Valley.
The funds will be used for customer acquisition, augmentation of technology base and few other expansion plans.
NextGen has Fortune 500 clients in 16 sectors across 6 countries starting from Intel Corporation, Reserve Bank of India, WWF, Infosys, ICICI Bank, Teri, ACC, Tech Mahindra, Ministry of Corporate Affairs, Pidilite Industries, Dabur Group, Vodafone, Mahindra Finance, British High Commission, New Delhi and Mindtree Ltd to name a few organizations using NextGen platform for their CSR and Sustainability activities.