Mozark (IFC-49339)

Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 18, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Mozark Pte. Ltd. Singapore
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 15, 2025

Disclosed by Bank Jan 22, 2025

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, Mozark Pte. Ltd. is a SaaS business which has developed a proprietary cloud-based platform that provides a non-intrusive approach to testing and monitoring the quality of digital infrastructure, from backend private infrastructure and telecom networks, to front end user applications performance and user experience. Mozark is seeking funding to scale up its operations via (i) incremental hiring across sales, marketing, and operations functions, (ii) incremental R&D investment in product enhancement and product development, (iii) strategic small size acquisitions and other runway expenditures as strategically required in the scale up phase.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

This is a Category B project as per IFC's Policy on Environmental and Social Sustainability as the company’s business activities have limited adverse E&S risks or impacts that are few in number, generally site-specific, largely reversible, and readily avoided by implementing mitigation measures. Key E&S risks and issues are associated with; i) assurance of fair and safe labor and working conditions, with documented human resource (HR) policies and practices including the employee grievance mechanism, gender-based violence & harassment (GBVH) at workplace; and ii) life and fire safety (L&FS) for the office facilities. 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

IFC will co-lead the Series B round with other investors for a total amount of up to US$ 10-15 million round of funding.  The proposed project entails IFC investing up to US$ 5 million for its own account in preferred shares.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Mozark Pte. Ltd. is a company resulted from the merger in 2019 of Phymetrics (India) and QoSI (France), two seed stage startups operating in the digital infrastructure monitoring and digital experience monitoring spaces. Mozark has already raised funding via a Series A led by Kalaari Capital, a PE fund based out of India, in 2021. The current shareholding structure is as follows: Kartik Raja (co-CEO and co-Founder) with 32.75%,  Fabien Renaudineau (co-CEO and co-Founder) with 11.91%, and Kalaari Capital with 21.74%.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Mozark Pte. Ltd. Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Mozark Pte. Ltd.
Akhilesh Chauhan
Head of Strategy, Investor Relations and Revenue
+91 8800553214
akhilesh@mozark.ai

https://www.mozark.ai/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works