Date:16/11/2005 URL: http://www.thehindubusinessline.com/2005/11/16/stories/2005111601720400.htm

Back CoOptions to expand, raise $15 m

Our Bureau

Hyderabad , Nov. 15

COOPTIONS Technologies Ltd, a Hyderabad-based technology company, has embarked on a major expansion project that will see the company setting up overseas centres and tapping potential in other States with its solutions for cooperatives.

The company expects to fund this expansion by raising about $10-15 million by next year through private placement.

It had earlier received two rounds of funding of about $1 million each. The first round was seed-funded by Mr N.S. Raghavan, Co-Founder of Infosys Technologies.

The Managing Director of CoOptions, Mr Subramanyam Yadavalli, said the company has managed to make inroads into rural cooperatives focussing on using technology for day-to-day applications.

After successful projects in Andhra Pradesh and Karnataka, we are now in talks with a few other States, including Maharashtra, to reach out these solutions, said Mr Yadavalli.