Weekly Tech News Roundup from India
05:02 | 
The amount of funding received by tech start-ups in India appears to be shrinking if we go by some recent investments. Moveo Systems recently received a new round of angel funding from undisclosed investors. Ziva software, a mobile search company, received about $1.5 million from Nadathur Investment and Holdings.
ICICI Venture Funds invested a little over $18 million in Electrotherm Ltd. MDI recently signed a deal with the Tata Motors.
IBM has bagged a 10 year contract worth $800 million from Idea Cellular to help them develop Idea Cellular’s business processes and technology infrastructure. Michael Dell announced that his company was setting up a manufacturing plant in the southern state of Tamil Nadu.
California-based Wells Fargo Bank has opened a technology development center in the Southern state of Andhra Pradesh.
Shailesh Rao has been appointed as Managing Director for Sales and Operations for Google India. Sudhir Kuppam has been named as the head of Intel Capital in India. Two top executives from Yahoo! India recently left the company. And students in IIT Mumbai will have restricted accesss to Internet.
Tags: Moveo Systems, Ziva software, Nadathur, ICICI, IBM, Idea Cellular, Michael Dell, Tamil Nadu, Wells Fargo, Andhra Pradesh, Shailesh Rao, Sudhir Kuppam, Intel Capital, IIT Mumbai
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Copyright ©2008 PodTech.net. All rights reserved. Modified: Wed, 23 May 2012 07:32:15 -0700
March 26th, 2007 at 3:10 am
Dear Kamla,
A clarification on your lead about tech funding “shrinking” in India. Moveo, captured as an example, has raised a total of US$2.2 million in seed funding in the past 9 months - commendable by any worldwide benchmark. This was commensurate with our business plans - as such, I don’t quite know how you are reading into this that tech fuding in India is shrinking - that is an unsupported lead of faith. One typically would not over-raise funding for the sake of funding.
Regards,
Sankalp
May 4th, 2007 at 4:08 pm
[…] JP Maeder is head of ZEVCAT, an acronym for Zero Emission Vehicle Compressed Air Technology. His company in Northern California is set up to be a distributor of the Air Car, a concept vehicle designed to run only on compressed air, created by French inventor Guy Negre and his company Moteur Development International, which recently signed an agreement with India’s Tata Motors, as reported here on PodTech by Kamla Bhatt. In this podcast we examine the Air Car and it’s promise, and the challenges JP is having in bringing the car to the U.S., as well as the challenges of the tehcnology itself. […]