Leading insurtech platform Turtlemint announced acquiring Pune based startup IOPhysics Systems today. IOPhysics’ founder and CEO Ashish Gawali will be joining the Turtlemint team as their VP – Data Science and Data Engineering, while the rest of the IOPhysics team will join the tech and data science verticals at Turtlemint.
As a part of the deal, Turtlemint will also be taking over the IOPhysics IP and Product portfolio.
Passion Connect, the HR Advisory Unit incubated by Blume Ventures, helped in completion of this acquisition. Led by Sanam Rawal, it implements innovative hiring techniques to find the perfect employee-employer fit for their startup portfolio.
Also Read: IBM expands operations in Telangana, India
Commenting on this Turtlemint co-founder Anand Prabhudesai, “As Turtlemint goes into the next phase of growth, data science and data engineering have become critical focus areas. Passion Connect recognised this need, leveraged its strong network in the startup community and connected us to various startup teams across domains. We loved the IOPhysics team, their IP and product since it allows developers to be cloud-agnostic and pick data platforms that suit the best need for the use case. We are excited and proud to join hands with them!”
Ashish Gawali, founder at IOPhysics, “When we were introduced to Turtlemint, we realised that both teams shared the same passion for improving people’s lives, even in remote pockets of the country. In addition, we have immense respect for the humility of their leadership team and the intelligence and experience that they come with. We’re delighted that Passion Connect reached out to us, and they have been a strong people partner during our acquisition journey!”
Sanam Rawal, Lead Talent Advisor, and Ayushi Verma from the Acquisitions and Acquihiring team at Passion Connect, “Over the last six years, we have worked relentlessly to connect founders to the right candidates and contribute positively to their growth journey. We saw the need for acquisitions and acquihires across startups since it helps build teams quickly while helping young startup founders leverage their entrepreneurship experience at scale. When Anand told us about their vision for a robust data science and engineering vertical, we knew that the IOPhysics team would be a good fit in terms of skill set and values. We congratulate both teams and wish them luck!”