Nettlinx raises $3 million from overseas funds

Netherlands-based EXchange Investors NV and Dubai-based TransGlobal FZC are the strategic investors

Hyderabad-based internet service provider Nettlinx Limited has raised $3 million (about Rs 20 crore) from strategic investors, the company management said on Thursday.

Netherlands-based EXchange Investors NV and Dubai-based TransGlobal FZC have been allocated share warrants on preferential basis and will be working closely with Nettlinx Limited in its diversification following their investment. The funds will enable the company to identify and acquire companies with experience in the industrial space, according to Nettlinx.

"We want to give new direction to the company. We are making the right move, at the right time, with the right strategic partners, who have deep understanding of the space we are venturing into," Rohit Lokareddy, managing director of Nettlinx Limited, said.

Both the funds have nominated their representatives on the board of the company, according to him.