Sanjay Kapoor, on-board with iBus as company’s Non-executive chairman
Bangalore, Jan 12th 2016: iBus networks & infrastructure private limited; leading provider of connectivity solutions inside buildings; raises Series “A” growth capital of Rs 150 Million from Mr. Vallabh Bhanshali of Enam, N Squared Management LLC, USA. and family office of Mr. Jagdish & Sandeep Mehta
iBus is also pleased to announce the appointment of Mr.Sanjay Kapoor, former Micromax chairman, as the Non Executive Chairman of the company and Mr. Mohandas Pai ex-Infosys board member and will be an advisory board member. Mr. Kapoor will steer and provide strategic direction to the company and Mohandas Pai will mentor and advise the team both Mr.Kapoor & Mr.Pai are early investors in iBus.
The funding will be used to drive deployment of iBus solutions across the country and multiple segments to deliver connectivity inside buildings
Reflecting on the infusion of growth capital, Ram Sellaratnam (CEO), said “today connectivity is basic utility. When people look at premises, they check water, electricity and connectivity. If connectivity is poor, the location will suffer. Inside buildings connectivity is a multi-dimensional problem. Our patent pending technology platform comprehensively solves voice, data, proximity marketing and machine to machine connectivity problems. That makes us a unique and innovative solution provider.’’
Cipher-Plexus has been an exclusive Investment Banker to the transaction as well as one of the Investors. Kunal Kumthekar, Founder & Managing Director of Cipher-Plexus said “we are extremely happy to be associated with iBus team and will keep on adding value as we have been doing so far.”