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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Nandu who wrote (4712)	6/26/1999 7:39:00 PM
From: Mohan Marette	Respond to of 12475

Watch this space. Nandu, keep an eye on these boys in case you are interested,may be an IPO in the making here. ============================== Company Homepage. graycell.com GRAY CELL ANNOUNCES ITS FIRST ROUND OF VENTURE CAPITAL FUNDING 22nd June,1999 A first round venture capital funding of 1.7 million US $ from venture capital Companies - Walden International Investment Group and Draper International as well as a private investment by Mr K. B. Chandrashekar(Founder & Chairman) of Exodus, was announced by Gray Cell at a press conference held in Bangalore today. The investment announcement was made Mr. T. S. Rajesh - Founder & CEO of Gray Cell who said, "The internet- to-mobile device is one of the biggest business opportunities ever. We are a first of its kind for the venture capital investment in India. We have been pioneers in the internet to mobile technologies and have a young & aggressive team, which is easily among the best in the world in this space. With this venture investment and the 'Dream team' inplace, Gray Cell is all set to take the globlal internet- to -mobile market place by storm. Speaking on behalf of Walden International Investment Group were Mr Som Shankar Das, Managing Partner and Mr Sudhir Sethi - Walden India's Director and Chief Representative. Mr Som Shankar Das said, "Walden believes in companies that leverage emerging market trends and we found Gray Cell is at least 2-3 years ahead of the world in its thought process. We are exited about this investment and believe it is possible to build a local company like Gray Cell into a global one." Mr Sudhir Sethi added, "Another important reason for us to invest in this venture was because we believe that the people that comprise a company are very important and the team at Gray Cell is one of the best we have seen." Speaking for Draper International was the Managing Director, Draper International (India) - Mr Abhay Hawaldar who said, "One of the qualities venture capital companies look for, are investments in organisations that make a tremendous impact in the marketplace in a short span of time. We believe that Gray Cell will be one such company. This therefore is an 'impact investment' for us. Mr. T. S. Rajesh added, "The Internet has become a replica of the real world. You can shop on the web, do your banking on the web, check your mail on the web … the services are never ending. The Internet's increasing application and popularity demonstrate a gradual shift in lifestyle. We at Gray Cell are taking this a step ahead. No longer will you have to access the web purely from your desktop. Come August 15th, we at Gray Cell will provide the world with a 'killer -app' that will change the way people communicate and use their favorite internet services. We will create a new lifestyle… "Your Mobile Lifestyle". Watch this space!!! economictimes.com