MAM
Matrix Partners overrides China to direct funds to India
BANGALORE: Matrix Partners, the US-based venture capital firm, prefers India over China to do some major investments. The firm, which focuses on early stage technology startups, has opened an office in Bangalore to augment its investment plans in product based technology companies in India.
“We are looking at both India and China, but the major chunk of funding would go to India,” Matrix Partners general manager Tim Barrows told Indiantelevision.com.
Matrix partners had collected around $500 million during their 7th round of funding in 2002; of which only 40 per cent had been utlised. According to company sources, Matrix is looking out for companies/partners who require around $3 million to 10 million. Apart from a controlling stake, the company also wants a person from their end on the board of the company they fund. A second round of funding will be done if required and Matrix generally stays on in the company they’ve invested in and profit from this.
“We see India as a very exciting growth opportunity and hope to nurture the entrepreneurial spirit here. Many of Matrix Partners portfolio companies have either a presence in India for their R&D and/or has Indian Founders. We perhaps have had more success backing in Indian led companies than any other VC firm in the USA and have been fortunate to be in the business with a number of terrific Indian entrepreneurs,” explains Barrows.
Matrix partners has lead investments in reputed firms including OpenWave, Veritas, Tivoli Systems, Alteon Web systems, SANDisk, Apollo Computer, Cascade Communications, Sonus Networks and Sycamore Networks. Five of the Matrix Partners were named in the Forbes Midas list.
Brands
Kwality Wall’s reports standalone losses following strategic HUL demerger
Ice cream major faces Rs 64 crore Ebitda loss amid commodity inflation and muted Q3 sales
MUMBAI: Kwality Wall’s (India) Limited (KWIL) has released its first set of financial results as a standalone entity, revealing a challenging start to its independent journey. Following its successful demerger from Hindustan Unilever Limited (HUL) on 1st December 2025 and its subsequent listing on 16th February 2026, the company is navigating a transition period marked by structural changes and high input costs.
For the quarter ended 31st December 2025, the company reported revenue of Rs 222 crores. Despite the revenue base, the bottom line was impacted by several factors, resulting in an Ebitda loss of Rs 64.2 crores. When calculated on a Pre-IND AS 116 basis, the Ebitda loss stood at Rs 83.8 crores.
Organic Sales Growth (OSG) declined by 6.5 per cent year-on-year during the quarter. Volume growth, however, saw a marginal increase of 1.2 per cent. The company reported a gross margin of 41.5 per cent. Additionally, exceptional expenses amounting to Rs 94 crores were recorded, primarily linked to non-recurring costs during the transition phase.
Performance across portfolios and channels was mixed. Within the impulse portfolio, brands such as Magnum and Cornetto recorded mid-single digit volume growth, indicating steady demand in on-the-go consumption. However, the in-home portfolio, which includes take-home packs, experienced muted consumption. The company is planning a relaunch of this category with improved offerings ahead of the 2026 season.
Quick commerce (Q-Com) continued to emerge as a strong growth driver, delivering robust double-digit growth during the quarter. Meanwhile, the company also expanded its physical distribution network by increasing the number of company-owned cabinets across markets.
Margin pressure during the quarter was driven by a combination of one-off factors and broader cost inflation. Gross margins were impacted by around 600 basis points due to trade investments made for stock liquidation. Additionally, cocoa price inflation contributed to another 400 basis points of pressure on margins.
Deputy managing director Chitrank Goel attributed the muted performance partly to prolonged monsoons and transitional challenges linked to the GST framework. Operating expenses also increased as the company invested in establishing its standalone supply chain, operational systems and corporate infrastructure following the demerger.
Looking ahead, the management remains focused on a volume-driven growth strategy. To restore profitability, the company has initiated a cost productivity programme aimed at reducing non-consumer-facing costs. It is also working on building regional manufacturing networks to optimise logistics expenses and improve operational efficiency.
The commodity outlook for the near term remains mixed. Dairy prices are expected to remain firm due to tight supply conditions and rising fodder costs. Sugar prices may also move higher following increases in the Minimum Selling Price (MSP). While cocoa prices have moderated recently, currency depreciation has offset some of the potential cost relief for the company.
