California and Pune-based startup Swipe Telecom has disclosed it has got commitment for its Series A funding worth $10 million from Pune-based Mantra Ventures and is in talks with some unnamed private equity investors to raise another $20 million in the next round of funding.
Shripal Gandhi, founder and CEO, Swipe Telecom told Techcircle that the investment happened around 3 months back and now the firm is in the market again to raise a larger round of $20 million. “We are in serious talks with various PE funds and in the next quarter will close our round of funding,” Gandhi added.
Not much is known about Mantra Ventures, but Swipe Telecom said it has a portfolio comprising of companies engaged in real estate, KPO, BPO & healthcare businesses.
The company has also announced the launch of what it is claiming to be India’s first 3D tablet PC called 3D Life. The tablet PC, which targets kids and youth, runs on Android 4.03 Ice Cream Sandwich (ICS) with a 7-inch TFT capacitative screen. Other features include A13 Cortex processor, 4GB internal memory with 512MB RAM and comes with a 3400 mAH battery.
At a price of Rs 5,999, 3D Life also offers a 2MP front camera that supports video calling. Along with this 3D tablet, the company also announced the launch of tabX78 Float series which it is claiming to be slimmest and lightest at 295 grams. It is also offering Hindi language support. The third launch is of tabX74S– Halo series, a 7-inch smartphone tablet bundled with SIM functionality for Rs 8,999.
The tablets launched are available online at Flipkart, Snapdeal, eBay and Ncarry apart from its offline stores.
(Edited by Prem Udayabhanu)