Financial Daily from THE HINDU group of publications
Friday, Jan 20, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 20, 2006 |
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Info-Tech
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Venture Capital Intel Capital to invest in HelloSoft equity Our Bureau
Hyderabad , Jan19 HELLOSOFT Inc, a provider of software for convergence applications, today announced Intel Capital would make an equity investment in the company towards the Series B funding announced earlier. The Chief Executive Officer of HelloSoft, Mr Krishna Yarlagadda, in a statement said, "Intel is a key strategic player in the converged communications market-segment and we are delighted that Intel has decided to participate in the second round of funding of the company." The funding will be used for further product development and marketing. The company did not disclose the quantum of Intel funding. The Series B round, which will now be closed with Intel's funding, was led by TD Capital Ventures with the participation from new investors Mitsui & Company Venture Partners, Entrepia Ventures, and current investors that includes Venrock Associates, Sofinnova Ventures and Jump Startup. The Vice-President of Intel Capital, Mr Sriram Viswanathan, said, "We are pleased to bring HelloSoft into our portfolio and be associated with a company whose products provide exciting solutions for customers in the converged communications market segment."
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