Bengaluru: Hyderabad-based Internet infrastructure company, Nettlinx, announces that it has lifted $3 million from strategic investors, along with EXchange Investments and TransGlobal FZC. The funding will help the company in acquiring European entities with firm grip in the industrial space. Apart from providing strategic support, the raised funds will also help Nettlinx to raise further capital and debt with lower interest rates from the European Banks.
Speaking on the occasion, Rohith Lokareddy, MD, Nettlinx, asserts, “We want to give new direction to the company. We are making the right move, at the right time, with the right strategic partners, who have deep understanding of the space we are venturing into. Both these Funds have chosen Nettlinx because of our strong fundamentals, and will help us emerge into a strong player in this space”.
In order to guide the diversification process, Nettlinx has requested both these Funds to nominate a Director each on the Board of the company. Following the same, Dr. E Leopold Dieck has been appointed as an authority in the industrial space by EXchange Investors, and has 25 Patents and 20 scientific publications to his credit. Also, TransGlobal FZC has appointed Abraham Joy, a highly experienced investment specialist to the Nettlinx board.
Founded in 1999 as an Internet Service Provider, today Nettlinx has its presence in over 93 locations in Telangana and Andhra Pradesh. It is a leading Class-B ISP provider and a leading choice for state-of-the-art services such as cable and wireless Internet access, web design, portal development; web hosting, server co-location, network management & e-Commerce services. The Nettlinx connectivity has been meeting the need of live video streaming, mailing and web services across multi-location enterprises in various segments like print and electronic media, financial institutions, educational centers, manufacturing units, healthcare & hospitality industry and several other SMEs.
Commenting on the investment, EXchange Investments and TransGlobal FZC say, “Nettlinx has strong fundamentals and is rightly placed to diversify into a sunrise segment like Industrial Technology. Our association with Nettlinx will strengthen the company’s position and help it in identifying and acquire companies with deep assets in this space. The association will benefit us mutually and will ensure Nettlinx emerge into a key player in industrial space with an international market”.