Internet service provider company Nettlinx has reportedly secured $3 Mn (INR 20 Cr) in funding from Netherlands-based EXchange Investors NV and Dubai-based TransGlobal FZC.
Following the transaction, the two investing entities have acquired share warrants in the company on a preferential basis and will now work in conjunction with the Hyderabad-based Nettlinx, as per an official statement.
The funding will be used to enhance its client base in European companies in the industrial space.
Founded in 1999, the company is an internet infrastructure initiative of the NETTLINX group. According to its website, it has a Class B license to operate as an internet service provider (ISP), NLD, ITSP and call centre (OSP) services provider. It offers network services to enterprises across Andhra Pradesh.
Nettlinx’s partnership with these two investment funds will also help the company raise further capital and acquire a loan from European banks with lower interest rates, said an official statement.
The company has further expanded to provide services in the connectivity and internet sector such as cable and wireless internet access, web design, web portal development, web hosting, server co-location, network management, and ecommerce services.
In March this year, Kolkata-based internet consulting company, Indus Net Technologies acquired ERP solutions provider, InFluxERP, in a stock plus cash deal for an undisclosed amount.
This development was reported by NextBigWhat.
