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| Microqual gets $10-MM funding |
Bangalore, July 3, 2007:
Microqual Techno Pvt Ltd, a R.F systems & solutions company, today announced the closure of a $10 million private equity funding from NEA-IndoUS Ventures, JAFCO Asia and BTS India Fund.
The Mumbai-based company designs manufactures and sells components and solutions for wireless applications (GSM, CDMA and WiMAx). With its manufacturing facilities at Bangalore and Uttarakhand, Microqual has established its vending relationship with leading mobile operators such as Hutch, Tata, Airtel and equipment manufacturers such as Ericsson, Motorola, Nortel and others. Ernst & Young were the financial advisors in this transaction.
The company will deploy the funding for strengthening its capability to offer complete solutions to the rapidly growing telecommunications industry, said Mr Mahesh Choudhary, CEO of Microqual.
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