The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.
July - 2010 - issue > Venture Beat
Gradatim IT Gets Funding from Reliance Venture
SI Team
Though the fund did not disclose the deal size and the quantum of stake it picked up in Gradatim, a media report that RVAM has invested $7-9 million in this transaction. The company plans to utilize the fund to foray into newer markets such as Africa and East Asia, besides strengthening its product portfolio. Yes Bank was the sole advisor to this transaction.
For Gradatim, the fund raise follows its earlier $3-million Series A round from NEA-IndoUS Ventures (NEA-IUV) in December last year. Gradatim has holding entities in India, Australia and Singapore, and has presence across South East Asia and the Middle East. It currently employs about 70 people.
In a statement, C V Prakash, founder & CEO, Gradatim, said, “We view Reliance Ventures as a key partner in our transition into the next phase of growth. We plan to augment our operational capabilities and foray into newer markets such as Africa and East Asia.”
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