VCCircle

Andhra Pradesh is believed to be the centre of VC funding now. Hyderabad-based Hellosoft, a product solutions company focused on voice over Internet protocol, has raised $27 million from VCs worldwide. The VCs include TD Capital Ventures, Mitsui & Company Venture Partners, Entrepia Ventures, Venrock Associates, Sofinnova Ventures, Jump Startup, Acer Technology Ventures and Walden International.

Another company, Nimaya, also has almost the same story to tell. It has tied up with US-based Updata Partners and will get funding to expand its operations. "We have an innovative solution based on grid computing for integrated customer management. We are not a pure ERP provider nor are we into CRM solutions."

Another company is the Sentini group of Industries, which has chalked out a Rs 300 crore expansion project including setting up a potable alcohol manufacturing plant. It is also depending on money from some lesser known VCs in the US. (Via newindexpress)