Date:09/08/2006 URL: http://www.thehindubusinessline.com/2006/08/09/stories/2006080904230400.htm

Back Kitven invests in Proteans Software

Our Bureau

Bangalore, Aug. 8

Proteans Software Solutions, a Bangalore-based product development outsourcing company, has received strategic investment from Karnataka Information Technology Venture Capital Fund (Kitven). The company did not disclose the quantum of investment. Founded in 2003, Proteans has built over 70 products working with over 30 US-based customers. Mr Prashant Singh, COO, said: "This investment will allow us to expand our infrastructure in India and accelerate our business development activities in the US." Proteans has two development centres in Bangalore and is looking to hire 500 software professionals in the next two years.