Novatium To Raise $10-15 Million For Scaling Up
By Nikhil Pahwa - Mon 04 Feb 2008 02:30 AM PST
Thin client company Novatium Solutions, which had received an undisclosed amount of investment from New Enterprise Associates (NEA) earlier last year, is looking to raise $10-15 million in funding to scale up operations, reports the Hindu. Novatium is targeting 1.5 lakh customers by the end of the year; apparently, post their launch with MTNL, the company has got around a thousand customers: 500 in Delhi, 200 in Chennai, 500 in Mauritius and 200 in Thailand. For its international operations, the company has tied up with Mauritius Telecom, and with Luxexy (Thailand). In Delhi, the services is priced at Rs. 399 for 30 hours of browsing per month and 300mb of server space. The setup cost is Rs. 1999 for the NetPC, Keyboard and Mouse, and Rs. 3000 for a monitor...that’s a maximum setup cost of Rs. 4999 (around $127), and a monthly cost of around $10.
Posted in: Broadband, Venture Capital
