Mobius invests in Mumbai startup
Emerging markets investment guru Mark Mobius has invested in Entropy Innovations, a Mumbai-based startup that is challenging the conventional two-wheeler washing industry with a proprietary machine that is faster as well as cost-effective compared to the conventional method used across the country . Along with some other investors, Mobius, who is also the executive presi dent of global fund house Templeton''s emerging mar ket arm, picked up a stake in Entropy that runs Express Bike Wash, a two wheeler cleaning ven ture using automatic machines developed by the company''s founders. Entropy , started in 2013 by four IIT-IIM gradu ates, raised the money through ah! Ventures, a net work of investors including Templeton''s Mobius. Courtesy: The Times of India