NetDevices to foray into e-Governance segment

By agencies   |   Tuesday, 29 November 2005, 08:00 Hrs
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HYDERABAD: NetDevices (NetD) Networks, a networking technology products company, is targeting the e-Governance, banking, finance and insurance sectors in the country.

Announcing this, NetD’s Vice-President, India and ASEAN, Uday Birje said that $909.09 million is likely to be spent on e-Governance projects across the country over the next few years. At least a third of this amount would be spent on hardware, where NetD expects to play a big role, he added.

Birje said, “We are in parleys with the governments of Andhra Pradesh, Kerala, Maharashtra and Madhya Pradesh, and expect a significant off take for our products that ensure that offices located in multiple centers have trouble-free interface with the central office.”

The funding came from Comventures, Artiman Ventures, Columbia Capital and JumpStart-Up. Earlier this year, NetD received a second round of funding of $25 million from existing investors as well as Castile Ventures.

The U.S.-based company has its operation center in Bangalore and Hyderabad. NetD plans to further expand its R&D work and global marketing and support.

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