Swipe raises Rs 30 crore funding from Kalaari Capital

Mobile technology start-up Swipe Telecom today said it has raised Rs 30 crore in venture capital funding from Kalaari Capital.
"Funding from Kalaari Capital is another milestone in our journey to become the leading tablet brand in India. Swipe will continue to lead in making available technology that is highly customised for the Indian consumers at attractive price points," Swipe co-founder and CEO Shripal Gandhi said.
Swipe develops and markets tablets and fablets (large smart phones) in India. It has a range of 23 devices.
It has a strong presence in Rajasthan, Punjab, Chandigarh, Himachal Pradesh, Jammu and Kashmir, Mumbai and Gujarat.

Mobility (platform and services) is a core investment theme for Kalaari and in that context, Swipe is a valuable addition to mobility portfolio which includes Magzter, Apalya, Robosoft and AppsDaily, Kalaari Capital Managing Director Rajesh Raju said.
"With this round of funding from Kalaari Capital, Swipe is targeting a 12 per cent market share in the rapidly growing tablet PC industry in India," Swipe co-founder and CFO Aman Gupta said.