Financial Daily from THE HINDU group of publications
Friday, Jun 14, 2002
Financial Daily from THE HINDU group of publications Friday, Jun 14, 2002 |
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Info-Tech
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Venture Capital SunTec braces for 2nd-round venture funding Vinson Kurian
THIRUVANANTHAPURAM, June 13 SUNTEC Business Solutions, the billing, customer care and transaction management solutions provider based in Technopark, is bracing for a second round of venture funding of $4-$5 million in the next three to four months' time. The Singapore-based Schroeder Capital Partners, part of the leading asset management company of Shroeder's, had invested $6 million in SunTec in the first round sometime ago. The company has got some major players in the European and US markets on its customer list. Mr K. Nandakumar, Chief Executive Officer, told Business Line here that SunTec had also embarked on a two-pronged drive to tone up human resources and sales/marketing and to ensure visibility for itself in the domestic market. This apart, the company was scouting for strategic as well as technology partners in order to ``add synergy to the business.'' This drive is expected to make up for the lag in the company not getting the expected level of endorsement from domestic players in ``one of the most happening telecom markets of the world.''
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