May 26, 2023
Eminent IITKGP Alumnus Arjun Malhotra’s Son and Friends Donate Equity Shares from their Singapore-based Company to IITKGPF valued at $350,000
According to the donors, Latize is a big data and AI company that was started by two entrepreneurial spirits with an idea to change the world of data by turning data into usable information and insights. Shiven Malhotra, who is the son of IITKGP alumnus Arjun Malhotra (B.Tech/ECE/1970), and his friends Alex and Sameer have donated 14,205 shares valued at around $350K.
IITKGP alumnus Arjun Malhotra says this about the donation, "I am very proud of my son, Shiven. Along with some friends, he donated some private company shares that they owned to IIT Kharagpur through the IITKGP Foundation (USA). I would encourage our alumni to look at doing this for all the startups that they do. Giving a small percent of shares when you start is easy and, hopefully, many of them become valuable over time and help build a corpus for the Institute."
According to Sameer Narula and Alex Kumar, who are Shiven Malhotra’s friends and also contributed to this donation, “August One and its affiliate investors are happy to donate August One's shares in Latize to the IITKGP Foundation. This donation aligns with our mission to support leading institutions, such as IIT Kharagpur, in nurturing the next generation of exceptional engineers and technical leaders who can make a positive impact on India and the world. As a family office and investment firm, August One's mission is to 'Invest in Good. For Good.' We actively seek opportunities to contribute to causes that align with our values. By donating our Latize shares to the IITKGP Foundation, we are investing in education and driving lasting change. Through this donation, we aim to empower deserving students to access world-class education at IITKGP and become catalysts for positive transformation in society. IIT Kharagpur is renowned for its excellence in education and research. Our donation enables deserving students to pursue their dreams and make a positive impact. We are honored to join forces with the IITKGP Foundation in shaping the next generation of leaders and creating a brighter future for India and the world.”