Sanovi Technologies, a business continuity and disaster recovery solutions company, has secured a $6.1 million funding led by Advanced Technology Ventures (ATV). | |
| This is the second round of funding Sanovi is getting after BayFleet LLC invested an undisclosed sum during the first round. |
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| The company plans to use its proceeds to expand its operations in North America and India and also to increase its R&D spend. |
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| Headquartered in Woburn (USA), Sanovi has a 60-member R&D team located in Bangalore and the US. The company has support and service teams in New Delhi and Mumbai. |
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| "ATV's investment in Sanovi proves our capability and delivery skills," said Srinivas Pothapragada, CEO of Sanovi Technologies. |
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| He said continuity management was a $5.3-billion market and Sanovi had the first mover advantage in offering a software product that assures continuity. |
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| "Our Global 2000 customers are giving us very positive feedback on the product," he added. |
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| Sanovi's customers include L&T, Yes Bank, HDFC, IDBI, Bank of Baroda and Corporation Bank. |
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