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KITVEN Invests $0.6 Million in Sloka Telecom
By siliconindia
Bangalore: Bangalore-based Sloka Telecom has raised $0.6 Million venture funding from Karnataka Information Technology Venture Capital Fund (KITVEN). The funds raised will be used for manufacturing logistics, supply chain and marketing.
Sloka Telecom is a radio access network solution provider. It was found in 2004 by ex-Sasken employees, Sujai Karampuri and Venkata Subbaiah. . It uses patent-pending architecture (SDBSA) to create lightweight and cost-effective base stations.
The company recently launched cost effective wireless broadband solutions targeted at Wireless Internet Service Providers (WISPs) of emerging countries. It offers these solutions in both licensed and unlicensed spectrums of 3.3 3.6 GHz and 5.8 GHz.
KITVEN, managed by Karnataka Asset Management Company, 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.
Its investment portfolio includes biology research firm Mitra Biotech and Pawaa Software, which offers innovative Data Leak Prevention solutions.
KITVEN is planning to launch a new VC fund for SMEs - Karnataka Venture Capital Fund (KARVEN Fund). The fund aims to invest in companies catering to clean energy, aerospace engineering, automobile components etc.