$11 million funding for Microland

By agencies   |   Tuesday, 08 August 2006, 19:30 IST
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BANGALORE: Microland Infotech, an IT Infrastructure Management and Technical Support Services company has secured $11 million funding. The funding that was raised from Cargill Ventures, Intel Capital, Trident Capital and JAFCO will help Microland invest in new infrastructure and help it accelerate it’s business growth in Remote Infrastructure Outsourcing. Pradeep Kar, founder, chairman and managing director of Microland Limited said, “This funding will enable us to augment investments in infrastructure, capabilities and business acquisitions to capitalize on the large opportunity in the $110 billion global Remote Infrastructure Management Services space.” Infrastructure Management Services has a market opportunity of $10 billion providing significant growth prospects with it’s untapped resources for Indian IT Services companies. Nasscom estimates the Remote Infrastructure Outsourcing Market to grow from $800 million (2005) to $7 billion by 2010. Said Deepak Malik, managing director of Cargill Ventures, “We believe that Remote Infrastructure Management is a strongly emerging IT services category that will accelerate as companies recognize the tremendous benefits and ROI that is attainable.” Microland Limited currently holds over 50 global customers with over 1600 employees, providing services relating to monitoring and managing client’s IT Infrastructure.