Ericsson Invests In NEA-backed Novatium Solutions

Affordable computing services firm Novatium Solutions Private Limited has raised a strategic investment for a minority stake from Swedish telecom gear maker Ericsson, according to reports. Chennai-based Novatium is backed by US-based investor New Enterprise Associates (NEA) and Rajesh Jain's Emergic Ventures.

Novatium already has partnerships with Indian telcos like Bharti, BSNL, MTNL and Tata along with successful pilot and deployments in other countries. The company was founded in 2004 and has developed an embedded devices capable of operating on Windows, Linux, Macintosh and Solaris platform without any change in device. This service provides internet access and computing applications.