Chiratae Ventures appoints Andreas Hettich to its global advisory board

Chiratae Ventures has appointed Germany-based Hettich Group scion Andreas Hettich to its global advisory board.

Hettich Group is a leading manufacturer of furniture fittings.

In an interaction with ET, Hettich said he was bullish about the Indian market and expects new-age companies to take their digital solutions and products to European markets, especially Germany.


“The level of digitisation in Europe is moderate and (there are) many services that Indian companies can introduce in Europe. Indian digital solutions and products have a huge untapped market in Europe,” he said.

Hettich joins global advisors such as Tata Sons former chairman Ratan Tata, Infosys co-founder S (Kris) Gopalakrishnan, Schroder Adveq Holding founder Bruno E Raschle, and Asian Paints’ vice chairman Manish Choksi, on the venture capital firm’s board.

According to Sudhir Sethi, chairman and founder of Chiratae Ventures (formerly IDG Ventures India), global advisors such as Hettich help portfolio firms find customers in newer markets including Europe.

“We believe his unique perspective and lessons from his career will add great value to our portfolio companies, scaling them to even greater heights on a global level,” Sethi said.

Launched in 2006, Chiratae has invested close to $800 million in Indian startups so far.

Its portfolio companies include Bounce, Cure.fit, FirstCry, Flipkart, Forus, Lenskart, Manthan, Myntra (acquired by Flipkart), NestAway, Newgen, PlaySimple, PolicyBazaar, RentoMojo, Unbxd and Uniphore among others.