Networking Solutions Provider HCIN Networks Secures INR 12.5 Cr Led by Swastika Investmart The Bengaluru-based networking solutions provider intends to use the fresh funding to expand its capabilities, which will further benefit the telecom and internet infrastructure sector and make it easier to carry out ongoing projects.
By Entrepreneur Staff •
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Telecom IT infrastructure startup HCIN Networks has recently raised around INR 12.5 crore in equity funding led by Swastika Investmart Ltd.
Ankit Mittal, Vijay Khetan, Executive Director, Param Capital, Ageless Capital, MSB E-Trade Securities, and other HNI Investors are among the investors in the investment round.
As per the official release, this infusion of capital will enable HCIN Networks to enhance its capabilities, further positively impacting the telecom and internet infrastructure sector and facilitating the smooth execution of ongoing projects.
Vikas Sharma, Executive Director of HCIN Networks, said, "we are excited to have secured this funding, which will enable us to drive innovation and extend our reach inside the telecom framework space. The victory of this capital raise shows how much HCIN Networks has accomplished and how much further it can go. We are exceptionally glad the funding has come at the right time as HCIN has consistently rising demand from clients for its services."
Launched in August 2019 by Vikas Sharma and Shalini Sharma, HCIN Networks specialised in providing IT system integration, managed services, data centre solutions and IT security, internet service providers, and many more IT service offerings.
Its main office is located in Bengaluru, while its branch offices are in Hyderabad, Chennai, and Noida.
Sunil Nyati, Managing Director of Swastika Investment Ltd, said, "HCIN has gathered a stellar reputation in the industry and with this new investment the Company is on strong balance to capitalize on its differentiated product and value proposition in the growing industry."
Sunil emphasised that HCIN's client portfolio includes Airtel, Indus Tower, ABB, Bondada Electrical Limited, Reliance Retail, Hughes Communication, Byju's, Decathlon, Lenskart, among others. The company has orders in hand for over INR 40 crore from different cities.
