The Hindu Business Line : Nimaya Tech to expand, receives venture funding

The company plans to use its first round of cash infusion from the US-based venture capital firm Updata Partners, to provide solutions from India and also step up software development activity.

The Director and Chief Technology Officer of Nimaya, Mr Krishna Kodali, said Fortune 2000 companies are faced with a problem of managing customer information, which is extremely fragmented. Either it is out-of-date, inaccessible or meaningless. Nimaya provides such companies with access to information in real time, thereby helping them in informed decision-making.

Addressing a press conference here today, along with the General Partner of Updata Partners, Mr Tim Mayers, Mr Kodali, said the company has specialised in offering solutions for such companies referred to as integrated customer management. The company's solution retrieves customer data from across the organisation and delivers actionable information to the employees. The company's client list includes large corporations such as Sprint.

Declining to give any financials of the company on the grounds of non-disclosure agreement, Mr Kodali said the company has so far invested more than $1 million in India and plans to increase its headcount here.

The ICM market is growing at the rate of about 135 per cent per annum and is projected to touch $1 billion by the year 2008. This provides immense opportunity for a specialised player like Nimaya, Mr Kodali said.

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