The Hindu Business Line : Nivio to raise $12-15 m to fund growth

Hyderabad, Sept. 2 Nivio SA, promoters of Nivio, a service that allows subscribers to rent software applications from companies including Microsoft and Adobe, is looking at raising $12-15 million to fund its expansion plans.

“We are looking at private equity or venture capital funding. It is to meet the sales and marketing initiatives,” Mr Iqbal Gandham, Chief Business Stratergist, Nivio, told reporters here on Tuesday.

In the last two-and half-years, Nivio had raised $6-7 million. The company expects to close the deal by the end of March next year.

Nivio allows users global access to a personal virtual desktop from any Internet-connected device. It also offers subscribers an array of services-on-demand that include, renting of software applications, accessing a variety of educational content and expanding of storage to keep pictures, music and data.

The software also allows desktop users in accessing their Windows desktops remotely through Mac, Windows and even some handheld devices.

The company believes Nivio is helpful especially for students or budding professionals who can’t afford to carry their own laptops and mainly work out of Internet parlours.

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Nivio to raise $12-15 m to fund growth