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Vinod 'Intel' Dham plans 2 more start-ups in India
By siliconindia
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Tuesday, 23 March 2004, 20:30 IST
BANGALORE: The Vinod Dham-promoted New Path Ventures (NPV) that specialises in hardware area will spawn two more product companies in India by end of this year.
NPV currently pursues three product startups, which undertake their complete R&D (research & development) work in India.
The VC raised a fresh round of funding recently by growing its $55-million corpus by 50 per cent.
The company is expected to announce the new investors into the company later sometime, while its earlier investors include IFC, (World Bank private sector development arm), Chrys Capital and Hasso Platter, chairman of SAP .
The existing startups from the stable of this two-year-old tech fund include Insilica, a chip company with engineering centre in Bangalore , Nevis, a security product company with R&D centre in Pune and the Bangalore-based Telsima.
NPV spends an initial investment between $5 and $10 million in each startup. Speaking to the Times of India from California, Dham said that the investor community in the US were showing tremendous interest in product startups from India.