Saturday, August 16, 2008

TechLit Solutions Receives $1 Million in Start-up Funding

Members of the Delhi-based Indian Angel Network (IAN) have acquired a 20 percent stake in US-based legal process outsourcing (LPO) venture TechLit Solutions for $1 million, valuing the start-up at $5 million. Techlit was started in January 2008 by Neal Gupta (who is also a member of IAN) along with the co-founders of Aptara, a US headquartered firm which offers composition and publication services to publishers of books and journals.

IAN is a Delhi based angel investing forum formed by a group of individuals investors. The investment is done at the personal level of the investors. In TechLit, investors like Rohit Chand (Axis IT&T, IIS Infotech), Rajan Anandan, former Dell chief in India and currently Microsoft MD in India, Avinash Singh (CEO & MD of Excel Ventures), and Ajay Garg (founder of Equirus Capital) have invested.

No comments:

Post a Comment