Identitis gets Rs 2-crore investment

Our Bureau Hyderabad | Updated on March 18, 2011 Published on March 18, 2011

Identis, a Hyderabad-based RFID (Radio Frequency Identification) start-up has received an investment of Rs 2 crore from Hyderabad Angels, a group of entrepreneurs who invest their own capital.

Unlike traditional venture capital and private equity models, Hyderabad Angels (supported by The Indus Entrepreneurs, Hyderabad) are a loosely formed organisation of people with a common goal of enhancing value of multiple businesses at the same time.

Identis which is in the custom RFID manufacturing industry was started in 2010 when promoters Mr Suresh Lingamaneni and Mr Sanjay Panda, having experience in the RFID industry, came together to form Identis along with few other friends in the industry, according to a press release.

Apart from funding, Hyderabad Angels will also provide mentorship for the entrepreneurs to take their businesses to the next level.

Published on March 18, 2011
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