Tikona raises $45 million from its investors in fresh round of funding

The Internet service provider, Tikona has raised $45 million from its investors in a fresh round of funding. The capital infusion in Tikona was led by International Finance Corporation (IFC) with an investment of $25 million. The other investors including Goldman Sachs Asset Management, Oak Investment partners, Everstone Capital and L&T Infrastructure Finance Company Limited, collectively invested the remaining $20 million in the company.

According to Tikona, some proceeds of the investment would be used for expansion of the company?s network in the existing regions with increasing its presence to new cities.

Tikona has the spectrum licence to use 20 MHz of spectrum in the 2300 MHz band in the five circles of Gujarat, Rajasthan, Himachal Pradesh, Uttar Pradesh (East) and Uttar Pradesh (West) and provides internet services in 25 cities across the country.