Banglore based Sloka Telecom, a leading worldwide provider of radio access network solutions for emerging markets, announced that it has received venture funding from Karnataka Information Technology Venture Capital Fund (KITVEN). The company will use the additional fund to boost its manufacturing logistics, supply chain and marketing.
Sloka Telecom received $0.6 million by venture capital funding from KITVEN.
Sujai Karampuri, cofounder and CEO, Sloka Telecom said, “The investment by KITVEN is a testament to the market potential and Sloka’s leadership position in this market,”. He further added, “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.”
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.
Jayakumar, CEO of KITVEN said , “We are excited to work with Sloka Telecom to take it to the next level.”