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Our Bureau

Ahmedabad, March 20

GVFL, venture capital company, has invested in CEON Solutions Pvt Ltd, a company incubated by the Centre for Innovation, Incubation and Entrepreneurship at Indian Institute of Management (Ahmedabad). CEON is a solution provider making education-centric applications. Their flagship education process management solution — `i-School' — helps integrate, streamline and enhance the operational efficiency of schools. GVFL would be investing Rs 3 crore in CEON. This is GVFL's second investment in an incubator company, after making investments in RapidRadio Solutions recently.

In a release here on Tuesday, Mr Vishnu Varshney, CEO of GVFL Ltd, said CEON is the 59th investment being made by GVFL and it is the seventh investment from the Rs 270 million Gujarat IT Fund. GVFL has previously invested in Net4Nuts, E Cube, Icenet, Anupam Globalsoft, Convergelabs and RapidRadio from the IT fund.

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