Luminous Teleinfra to raise $3 Million in Series A funding

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New Delhi: Delhi based SAR group's arm Luminous Teleinfra will raise $3 million (16 crore) in Series A funding from the venture capital firm IFCI Venture Capital Fund (IVCF). The capital shall be used for a manufacturing unit in Himachal Pradesh. The manufacturing unit will be responsible for manufacturing telecom batteries, power management units, power conversion devices and solutions for reducing operational costs for telecom operators. The company has earmarked 200 crore of investment for the setting up of the units in the Una district of Himachal Pradesh to foray into the telecom sector. The company has developed technologies for improvement of energy efficiency in telecom BTS (Base Trans-receiver Station) sites through reduction of diesel consumption by the operators by as much as 70 per cent. As a part of its expansion plans the firm shall will acquire companies abroad and also raise additional equity capital in future. The brand 'Luminous' under the SAR gruop is mostly recognized for its power solution equipments manufacturer Luminous Power Technologies. Apart from Luminous Teleinfra, even Acme TelePower who shares the same space has raised400 crore from Monsoon India Inflection and Jackson Heights Investments. They also raised 197 crore from DB International, Earthstone Holdings and Kotak Mahindra Capital.