NetEnrich to invest $6m in India
Netenrich Inc., a Santa Clara-based IT infrastructure products and services company, plans to expand its Indian operations based in Hyderabad by investing about $6 million in the next 18 months.
Its President and Chief Executive Officer, Raju Chekuri, told Business Line that the company, from a start-up status about 18 months ago, has grown to 60 people with 45 of them based in the research and development centre in Hyderabad.
“Having seen the company through the initial phase, we have embarked on an expansion of the R&D centre in Hyderabad, that would mean an addition of about 100 people by the end of this fiscal,” he said.
NetEnrich has been angel funded by a Japanese company Macnica and got seed fund of the promoters, including Chekuri. Having gathered some momentum both in the US market and also in Japan through Macnica, the company is in the process of raising about $10 million, which is expected to be completed by the third quarter this year, he said.
More: sify.com
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