Date:09/08/2006 URL: http://www.thehindubusinessline.com/2006/08/09/stories/2006080904290400.htm

Back Microland gets $11-m funding

Our Bureau

Plans 1,000 seater in Bangalore

Bangalore , Aug. 8

Microland Ltd, a provider of IT infrastructure management and technical support services, said on Tuesday that it has secured $11 million in the second round funding from Cargill Ventures, Intel Capital, Trident Capital and JAFCO Venture. In December 2004, Microland had raised $7.3 million from JP Morgan and ICICI Ventures.

"This latest funding will enable us to augment investments in infrastructure, capabilities and business acquisitions to capitalise on the large opportunity in the $110 billion global Remote Infrastructure Management Services space," said Mr Pradeep Kar, Founder, Chairman and Managing Director of Microland Ltd.

Microland would use the funds to set up a new facility in Bangalore that can accommodate 1,000 people and be operational by December this year, Mr Kar said. Microland currently has some 1,600 people operating from Bangalore and Chennai.

"Microland pioneered the remote infrastructure management in India when we set up our first Global Operations Centre in 1999 to manage the IT Infrastructure assets of a global corporation," Mr Kar claimed.

The company has a client base of over fifty global customers ranging from a media company, global services company, banking and financial services institutions, multiple high tech IT companies, major software corporation to a diversified business conglomerate.

"We believe that remote infrastructure management is a strongly emerging IT services category that will accelerate as companies recognise the tremendous benefits and ROI that is attainable," said Mr Deepak Malik, Managing Director of Cargill Ventures.

"The investment by Intel Capital in Microland follows the establishment in December 2005 of a $250 m Intel Capital India Technology Fund, intended to help stimulate technology innovation in India and to support growth of the IT industry."