Microqual Techno raises USD 10 million
Bangalore, July 3: Microqual Techno, a R.F Systems and Solutions Company, today announced the closure of a US dollar 10 million private equity funding round from NEA-IndoUS Ventures, JAFCO Asia and BTS India Fund.
Microqual, designs, manufactures and sells components and solutions for wireless applications (GSM, CDMA, WiMAx, etc).
The company, based out of Mumbai, had manufacturing facilities in Bangalore and Uttarakhand. Microqual had established itself as a reliable vendor to most of the mobile operators in the country like Hutch, Tata, Airtel, and Equipment manufacturers like Ericsson, Motorola and Nortel. Ernst and Young were the sole financial advisors in this transaction, a company release said.
Mr. Mahesh Choudhary, CEO of Microqual Techno Pvt. Ltd, said, ''This funding will strengthen our capability to offer complete solutions to the rapidly growing telecommunication industry, and accelerate existing and new solutions initiatives. Microqual's rapid growth is a result of the confidence demonstrated by our customers in our ability to consistently supply the right solutions at the right time towards rapid clip network deployment. The funding will help us strengthen this focus on evolving customer needs, and enhance our infrastructure and team to deliver against the same''.