Sloka Telecom, a leading worldwide provider of radio access network solutions for emerging markets, has received venture funding from Karnataka Information Technology Venture Capital Fund (KITVEN). The latest round of funding for the company underscores the market demand for high performance but simple solutions that reduce the time and effort needed to rollout broadband wireless networks through extremely compact radio units that can be put on any tower, lamp post, without need for a/c housing thus saving substantial cost in installations and operations for service providers.
Sloka Telecom received $0.6 million by venture capital funding from KITVEN. With its order books running at full capacity, the company will use the additional capital to boost its manufacturing logistics, streamline supply chain, and marketing.
KITVEN, managed by Karnataka Asset Management Company Private Ltd, is contributed by Karnataka State Industrial Infrastructure development Corporation(KSIIDC), Karnataka State Financial Corporation (KSFC), Small Industries Development Bank of India (SIDBI) and Karnataka Bio-technology & Information Technology Services and targets investments in IT, Biotech and Nanotech sectors.
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