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Sloka Telecom receives funds from KITVEN worth $0.6 million

07 April 2011

Sloka Telecom, a provider of radio access network solutions for emerging markets, has received $0.6 million venture funding from Karnataka Information Technology Venture Capital Fund (KITVEN). The company will use the additional capital to boost its manufacturing logistics, streamline supply chain, and marketing.

“This round of funding will allow us to continue to increase market share and innovate further in providing a wider range of radio access network solutions that offer unmatched simplicity, reliability and value,� Sujai Karampuri, cofounder and CEO, Sloka Telecom.

The company informed that the latest round of funding for the company underscores the market demand for high performance but simple solutions that reduce the time and effort needed to rollout broadband wireless networks through extremely compact radio units that can be put on any tower, lamp post, without need for a/c housing thus saving substantial cost in installations and operations for service providers.

“The company’s exceptional management, technology innovations and its commitment in providing customers with a new way to simplify fixed WiMAX, mobile WiMAX and LTE rollout is the foundation to the company’s success,â€� said Jayakumar, CEO, KITVEN.

KITVEN, managed by Karnataka Asset Management Company, targets investments in IT, Biotech and Nanotech sectors. Kalozal Consultants, Bangalore acted as investment banker for the transaction.

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