KTwo Technologies to raise Rs 15 cr

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) April 17, 2009 -- KTwo Technology Solutions, a Bangalore-based two-year-old software products company, is planning to raise around Rs 15 crore to fuel its expansion plans. The company recorded revenues of Rs 11.56 crore for year-ending March 31, 2009, registering an organic growth of 83 per cent compared to the previous year. The EBITDA was Rs 1.61 crore, a growth of 128 per cent compared to the previous year. The company added 10 new clients during the year.




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Established in February 2007, KTwo specialises in products and solutions that complete the last metre connection in an information link. “Last metre connectivity provides secure short range information transfer to enable end-user applications to seamlessly connect to supported services,” he detailed. Commenting on the results, Anant Koppar, chairman & CEO of KTwo, said, “Our consistent quarter-on-quarter and full year growth, both in terms of revenues as well as profitability points to a healthy trend for KTwo despite the global recessionary pressures.”

The company has built products like K-SpeaK - a Hands-Free-Car-Kit, KrysTalK - a wireless Headset, Cytosight - a Tele-pathology Product and Kshema - a Telemedicine Product in addition to the others. “Some of our products have already got traction with large Automotive OEMs,” Koppar added. Encouraged by this, KTwo has expanded its people and technology strengths in an effort to make inroads into newer markets and respond to fresh opportunity.

Koppar also said, “KTwo’s strong showing emerges from our capacity to offer a judicious mix of products and solutions in Last Metre Connectivity for a cross section of industries that include Healthcare, Automotive and Mobile Enterprises. We have attracted several seasoned professionals to pursue careers with us and have been successful in building a talented team of close to 200 employees.”