Sloka Telecom, a worldwide
provider of RAN solutions for emerging markets, has received venture funding
from Karnataka Information Technology Venture Capital Fund (KITVEN). The latest
round of funding is aimed at reducing the time and effort needed to roll out
broadband wireless networks through compact radio units that can be installed
on towers, lamp posts, and more, without need for a/c housing – thus saving
substantial cost in installations and operations for service providers.
Sloka Telecom received $0.6 mn by venture capital funding from KITVEN.
“In the last couple of years,
Sloka has evolved into a prominent player in the BWA market helping service
providers, especially those offering services in unlicensed spectrum category,
to rapidly and profitably rollout services. The investment by KITVEN is a
testament to the market potential and Sloka’s leadership position in this
market,” said Sujai Karampuri, co-founder and CEO, Sloka Telecom, 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.”
According to Jayakumar, CEO of
KITVEN, “Sloka’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. We are
excited to work with Sloka Telecom to take it to the next level.”
KITVEN, managed by Karnataka Asset
Management Company Private Ltd, is contributed by Karnataka State Industrial
Infrastructure development Corporation (KSIIDC), Karnataka State Financial
Corporation (KSFC), Small Industries Development Bank of India (SIDBI) and
Karnataka Bio-technology & Information Technology Services and targets
investments in IT, Biotech and Nanotech sectors.
Sloka Telecom will use the
additional capital to boost its manufacturing logistics, streamline supply
chain, and marketing.
By TelecomLead.com Team