Sloka Telecom has received $0.6 million venture funding from Karnataka Information Technology Venture Capital Fund (KITVEN).
The company plans to use the additional capital to boost its manufacturing logistics, streamline supply chain, and marketing.
?In the last couple of years, Sloka has evolved into a prominent player in the Broadband Wireless Access (BWA) market helping service providers, especially those offering services in unlicensed spectrum category, to rapidly and profitably rollout services. The investment by KITVEN is a testament to the company?s position in this market,? said Sujai Karampuri, cofounder and CEO, Sloka Telecom.
?This round of funding will allow us to continue to increase market share and innovate further in providing a wider range of radio access network solutions that offer simplicity, reliability and value.?
KITVEN, managed by Karnataka Asset Management Company Private Limited, is contributed by Karnataka State Industrial Infrastructure development Corporation (KSIIDC), Karnataka State Financial Corporation (KSFC), Small Industries Development Bank of India (SIDBI) and Karnataka Bio-technology & Information Technology Services and targets investments in IT, Biotech and Nanotech sectors.
