Mantra Softech - About the company
Mantra Softech is a series A company based in Ahmedabad (India), founded in 2006 by Hiren Bhandari and Bhavyen Bhandari. It operates as a Biometrics-based security and surveillance solutions. Mantra Softech has raised $14.2M in funding from India SME Investments, with a current valuation of $*****. The company has 1800 active competitors, including 333 funded and 224 that have exited. Its top competitors include companies like BitGo, Scandit and LifeLock.
Company Details
Biometrics-based security and surveillance solutions. It provides users with a platform that offers products in biometric and RFID industry. Its product portfolio includes fingerprint sensors, IRIS sensor, integrated fingerprint devices, integrated IRIS devices, POS, MicroATM, Financial Terminal, IRIS recognition in mobile and other biometric devices. Its security solutions include business security systems, enterprise security solution, integrated security solution, access control system, smart city solution, airport solution, suitable for application in both SME and large enterprises. It also provides citizen identification system, and biometric products for aadhar product. Its application is available on the Android platform.
- Website
- mantratec.com
- Social
- Email ID
- *****@mantratec.com
- Phone Number
- +91 **********
- Registered Address
- B-203, 2ND FLOOR, SHAPATH HEXA, NR. GUJARAT HIGH COURT, OPP. KARGIL PETROL PUMP, S.G. HIG, HWAY, SOLA, Ahmedabad, AHMEDABAD, Gujarat, India, 380060
Key Metrics
Founded Year
2006
Location
Ahmedabad, India
Stage
Series A
Total Funding
$14.2M in 3 rounds
Latest Funding Round
Post Money Valuation
$***** as on Jul 31, 2025
Investors
Ranked
6th among 1800 active competitors
Annual Revenue
₹100 - ₹500 Cr as on Mar 31, 2025
Employee Count
1,059 as on Jun 30, 2026
Legal entities associated with Mantra Softech
Mantra Softech is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
MANTRA SOFTECH (INDIA) PRIVATE LIMITED CIN: U72200GJ2006PTC048092 , India, Active | Apr 06, 2006 | ₹100 - ₹500 Cr (As on Mar 31, 2025) | 811 (As on May 31, 2026) |
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Mantra Softech's funding and investors
Mantra Softech has raised a total funding of $14.2M over 3 rounds. Its first funding round was on Apr 15, 2008. Its latest funding round was a Series A round on Jul 31, 2025 for $*****. 2 investors participated in its latest round. Mantra Softech has 2 institutional investors and 2 angel investors.
Here is the list of recent funding rounds of Mantra Softech:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Jul 31, 2025 | 4519893 | Series A | 2424494 | 7371124 | 6813064 | 5158925 |
May 01, 2009 | 4968296 | Angel | 8736043 | 5096032 | 2731701 | 3736748 |
Apr 15, 2008 | 6956392 | Angel | 2578972 | 4491176 | 3952619 | 6882492 |
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Mantra Softech's founders and board of directors
Founder? Claim ProfileThe founders of Mantra Softech are Hiren Bhandari and Bhavyen Bhandari. Hiren Bhandari is the CEO of Mantra Softech.
Here are the details of Mantra Softech's key team members:
- Hiren Bhandari: Co-Founder & CEO of Mantra Softech and founder of 3 other companies, mxface, MageID and Minop. They serve on the boards of 2 companies.Contact Info: 1 phone number
- Bhavyen Bhandari: Co-Founder of Mantra Softech. Contact Info: 1 email address
Mantra Softech's Board of Directors
Mantra Softech's board has 2 active members. Hiren Bhandari is part of team and Bhavyen Bhandari is independent board member.Here is the list of Mantra Softech's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 20y 5m | |
Independent board member | - | Current | 20y 5m |
View details of Mantra Softech's Founder profiles and Board Members
Mantra Softech's employee count trend
Mantra Softech has 1,059 employees as of Jun 26. Here is Mantra Softech's employee count trend over the years:
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Mantra Softech's Competitors and alternates
Top competitors of Mantra Softech include BitGo, Scandit and LifeLock. Here is the list of Top 10 competitors of Mantra Softech, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | BitGo 2013, Palo Alto (United States), Public | Platform that offers crypto based financial services | $170M | 81/100 | |
2nd | Scandit 2009, Zurich (Switzerland), Series D | Developer of smart data capture platform for various industry applications | $273M | 77/100 | |
3rd | LifeLock 2005, Tempe (United States), Acquired | Cyber identity theft protection and prevention platform | $192M | 77/100 | |
4th | AI based identity verification and e-Signing solution provider | $13.8M | 72/100 | ||
5th | Clear 2010, New York City (United States), Public | Provider of expedited identity verification services for airport security and more | $135M | 71/100 | |
6th | Mantra Softech 2006, Ahmedabad (India), Series A | Biometrics-based security and surveillance solutions | $14.2M | 70/100 | |
7th |  HYPR 2014, New York City (United States), Series D | Provider of passwordless multi-factor authentication, identity verification, and risk management | $131M | 69/100 | |
8th | HyperVerge 2014, Bengaluru (India), Seed | Provider of end-to-end KYC software and identity verification solutions | $1M | 69/100 | |
9th | Microblink 2013, London (United Kingdom), Series A | Platform offering card scanning apps-based consumer payments | $60M | 68/100 | |
10th | Provider of digital identity solutions for secure online transactions and signatures | $29.3M | 68/100 |
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Mantra Softech's Latest cap tables and shareholding
Founders (largest shareholder) own 88.25%, Funds own 5.33%, Enterprises own 3.88% and Angels own 1.26%. The net worth of Mantra Softech's founders is INR 911Cr as of Jul 31, 2025.
Shareholders Name | Post Round Holding % | Net worth | Cumulative Investment | Realised Returns | Unrealised Returns | Return Multiple |
|---|---|---|---|---|---|---|
Founder | 88.25% | 911Cr | 4083820 | 7070245 | 4600512 | 5378385 |
Fund | 5.33% | 55Cr | 82794 | 20848 | 31989 | 65878 |
83865 | 93066 | 10065 | 15649 | 68669 | 16671 | |
Enterprise | 3.88% | 40Cr | 974 | 465 | 538 | 171 |
Angel | 1.26% | 13Cr | 7 | 8 | 6 | 3 |
Other People | 1.28% | 13.2Cr | 8 | 3 | 6 | 6 |
Total | 100.00% | 1,030Cr | 1165227 | 8862779 | 2555900 | 3991524 |
To unlock detailed Cap Table of Mantra Softech Sign up today!Notes: The column Net Worth represents the net worth of investments made by that entity, as per the latest cap table.
DisclaimerView more details of Mantra Softech's Shareholding
Mantra Softech's Investments and acquisitions
Mantra Softech has made no investments or acquisitions yet.
Reports related to Mantra Softech
Here is the latest report on Mantra Softech's sector:
News related to Mantra Softech
Filter this listMedia has covered Mantra Softech for a total of 4 events in the last 1 year, 1 of them has been about company updates.
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Mantra Softech Receives $14M Investment to Boost AI, Biometric Anti-SpoofingBiometricUpdate.com•Mar 12, 2026•Mantra Softech
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Mantra Group Secures ₹125 Crore Funding from India SME Fund to Boost AI InnovationStartup Story•Nov 05, 2025•India SME Investments, Motilal Oswal Financial Services, Mantra Softech, Motilal Oswal and 1 other
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Mantra Softech Awarded by UIDAI for Pioneering Spoof Detection in Biometric AuthenticationHITECH news articles•Oct 08, 2025•Mantra Softech
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Mantra Softech dual iris biometrics pass iBeta PAD testBiometricUpdate.com•Aug 01, 2025•Mantra Softech
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Mantra Softech Receives US Patent for OCT Fingerprint Biometric Liveness DetectionBiometricUpdate.com•Jul 22, 2025•Mantra Softech
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Mantra Softech Extends License for FPC Iris Technology to Expand into New MarketsGlobeNewswire•Apr 28, 2025•Fingerprint Cards, Mantra Softech
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