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Sloka Telecom's innovations of its products and particularly the compact and cost-effective base stations gets a boost. Karnataka Information Technology Venture Capital Fund (KITVEN) extends its support and it allocates $0.6 million as venture funding. The company will utilize the additional capital to boost its manufacturing logistics, streamline supply chain and marketing. The funding for the company is basically due to the increasing demand for high performance and simple solutions that reduces the time and effort needed to rollout broadband wireless networks through extremely compact radio units that can be put on any tower, lamp post, without need for a/c housing thus saving substantial cost in installations and operations for service providers.

Sujai Karampuri, co-founder and CEO, Sloka Telecom points out that “In the last couple of years, Sloka has evolved into a prominent player in the Broadband Wireless Access (BWA) market helping service providers, especially those offering services in unlicensed spectrum category, to rapidly and profitably rollout services. The investment by KITVEN is a testament to the market potential and Sloka's leadership position in this market.” He added, “This round of funding will allow us to continue to increase market share and innovate further in providing a wider range of radio access network solutions that offer unmatched simplicity, reliability and value.”

KITVEN, managed by Karnataka Asset Management Company Private Ltd, is contributed by Karnataka State Industrial Infrastructure development Corporation (KSIIDC), Karnataka State Financial Corporation (KSFC), Small Industries Development Bank of India (SIDBI) and Karnataka Bio-technology & Information Technology Services and targets investments in IT, Biotech and Nanotech sectors.

"Sloka has proven its leadership through its vision, customer success and product excellence," said Jayakumar, CEO of KITVEN. "The company's exceptional management, technology innovations and its commitment in providing customers with a new way to simplify Fixed WiMAX, Mobile WiMAX and LTE rollout is the foundation to the company's success. We are excited to work with Sloka Telecom to take it to the next level.”