Bangalore-based software services company Iteamic has received an undisclosed amount of funding from Canbank Venture Capital Fund, a subsidiary of the public sector Canara Bank. Iteamic, an SEI CMMi Level 3 company, is an offshore and outsourced software solutions provider in the financial services, banking and insurance segments. The company, founded by Raghurama Kote in 2003, currently employs about 200 professionals.

Canbank Venture, set up in 1998, is an early stage venture fund, and manages a Rs 112 crore ($28 million) in aggregate capital.

Posted on 06/30/07, 10:51 AM
in: Deals, Early Stage/Angel, Main Page, Technology, Venture Capital
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