Intel Capital, IL&FS decide to invest Rs 19 crore in FutureSoft
By Our Convergence Bureau | 25 Jun 2003
Chennai: Venture capital outfits Intel Capital and IL&FS Investment Managers (IIM) together will invest Rs 19 crore in the city-based FutureSoft, a provider of communications and embedded software solutions.
FutureSoft will invest a major portion of the capital in building complete communication solutions to be licensed to original design manufacturers (ODMs) and original equipment manufacturers (OEMs).
FutureSoft will be upgrading its research and development equipment, testing equipment and laboratories. The company's business strategy is to tie up with OEMs that have market reach while it focuses on developing software and designing hardware.
On the sales and marketing front, FutureSoft plans to open new offices while augmenting its channel partners.