Ahmedabad, Oct 22 (UNI) GVFL, formerly Gujarat Venture Finance, India's pioneer venture capital company today announced an investment of Rs 4 crore in Sahajanand Laser Technology (SLT), one of the largest manufacturers of laser systems for diamond industry in India.
The Gandhinagar-based SLT will utilise the invested funds in the expansion of its range of high-end laser machines, a GVFL release stated.
The funding provided to SLT is part of GVFL's business strategy of ''picking up innovative technology related companies early and nurturing them to leadership,'' the release added.
''With India emerging as the global destination for diamond cutting and adding value to small and every small diamond ''roughs'', SLT has the potential to become a definite winner with GVFL's effective nurturing and constant support,'' GVFL Chief Executive Officer Vishnu Varshney said.
''SLT is the first Indian company to introduce a Fiber Laser Machine in India. We have ushered a revolution in the development of laser systems for diamond industry and feel that with GVFL's support we can kick-start our expansion growth exponentially,'' SLT Managing Director Arvind Patel added.
STL is the 61st company in which GVFL has made an investment, the release added.