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TMCNet:  Exotel Techcom secures $0.48 million in Series A venture funding round

[March 28, 2012]

Exotel Techcom secures $0.48 million in Series A venture funding round

Mar 28, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Exotel Techcom Pvt., Ltd., an India-based provider of cloud-based business phone systems to SMEs, has secured INR25 million ($0.48 million) in Series A venture funding round from Mumbai Angels and Blume Venture Advisors.


Under the transaction, Mumbai Angels and Blume Ventures have acquired a 25% stake in Exotel.

Deal Value (US$ Million) 0.48 Deal Type Venture Finance Sub-Category None Deal Status Completed: 2012-03-27 Deal Participants Target (Company) Exotel Techcom Pvt., Ltd.

Deal Rationale Exotel will use the funding for building its infrastructure, stabilizing its product, and expanding the team.

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