The Hindu Business Line : Intoto secures $11 m funding

INTOTO Inc, an integrated security, wireless and voice communications related products company, having a research and development (R&D) centre in Hyderabad, plans to invest $15 million over the next few years in India and establish more centres in Chennai, Bangalore and Pune.

The co-founder and Chief Executive Officer of the Silicon Valley-based Intoto Inc, Mr Sathyan Iyengar, said that the company recently secured $11 million led by AsiaTech Management and a corporate partner.

This fresh funding will fuel expansion of operations in India and the US to accelerate its product development and marketing efforts.

Addressing a press conference here on Wednesday after commissioning a second centre in Hyderabad, Mr Iyengar said "Intoto India is integral part of our global operations. We plan to invest $15 million in the next five years to fuel the expansion that includes about $3 million this year. The investment would go into quality testing laboratory and related infrastructure to support the expanded product development teams."

The President and Chief Operating Officer of Intoto India, Mr S.N. Murthy, said, "being a product development company, the expansion of a company like Intoto needs to be viewed with a different perspective. As part of the expansion, the company expects to increase its current headcount from 120 to 160 in Hyderabad this year, and start new centres later during this year. While we have expanded the Hyderabad R&D centre with a 22,000-sq. ft space to broaden and scale up operations , the proposed new centres are aimed at tapping the local talent."

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