Hyderabad, October 14, 2003 -- IN a pre-IPO equity funding, Four Soft Ltd, a Hyderabad-based software company, has announced an investment of Rs 7 crore by UTI Venture Fund while Andhra Pradesh Industrial Development Corporation (APIDC) has pumped in Rs 1 crore in the company.
An enterprise solutions provider for logistics, transportation and supply-chain process management, Four Soft had earlier this year announced plans to enter the capital market.
The company has a global customer base for its products — eSupply-SP and eSupply-EP. While eSupply-SP is a complete end-to-end ERP for transportation, logistics and 3PL companies, eSupply-EP enhances efficiencies of supply-chain process management of manufacturing and distribution businesses.
The Managing Director of Four Soft, Mr Palem Srikanth, in a statement said Four Soft, a profitable company, had developed products catering to several customers in logistics, transportation and distribution business around the globe.
"We are at a critical stage in the business and would be transitioning to the next higher level of growth. This funding from UTI Venture Funds would help Four Soft in meeting its growth objectives."
The Chief Executive Officer and Managing Director, UTI Venture Fund, Mr Rajakumar, said "With the present capital raising from UTI Venture Fund and the funds raised from the IPO, the company would have the financial strength to pursue a host of growth opportunities." |
News Releases