Released on: 10, August 2006
, Author: Sanjay Yadav of TechAxes
, Audience: Software related
India -TechAxes and Rajasthan Venture Capital Fund (RVCF)announced today the signing up of agreement for early stage funding to TechAxes - aBusiness Intelligence and Analytics software vendor focused on BI product space. Thefunding will be in the form of equity as well as optionally convertible debentures(OCDÂ's). RVCF (Rajasthan Venture Capital Fund) is managed by a private sector assetmanagement company in which RIICO and SIDBI are the major shareholders. TechAxesoffers business intelligence and analytics software, providing companies with onecomplete solution for their many analytical needs. TechAxes web on demandDashboards, Query, Reporting and Analysis in a unified architecture allows end usersto access and view their organizationÂ's data from anywhere on the globe and analyzemeaningful information with ease.
According to Mr. Girish Gupta, CEO RVCF Â Development of the product in India rightfrom day one, has helped TechAxes build value proposition which will be hard tomatch by other BI vendors in BPM and Finance analytics space at the top end of BIvalue chain. Furthermore, he thinks that the domestic markets will be benefited fromthe rich global experience and background of Mr. Sanjay Harpavat, CEO TechAxes whohas spent more than ten years in the BI space in the US marketplace, and it willhelp Indian companies adopt global best practices in financial consolidation andreporting.
Mr. Sanjay Harpavat, CEO TechAxes, added  Starting in India makes tremendousbusiness sense as globally it is one of the fastest growing Business Intelligencemarket today. Besides, availability of funding in the home state has worked as abooster to our efforts in moving forward. Funding from RVCF is an endorsement of ourcapabilities as a team and our plans to grow as an upcoming enterprise fromRajasthan, India into the global BI marketplace . He strongly believes that theTechAxes BI suite will offer businesses an unparalleled value proposition in termsof high-performance, high-definition business analytics solution at the lowest TCO.
Unlike other BI vendors and industry pricing trends, TechAxes offers a uniquepricing model to its customers. Clients will have the option to choose PlannedComplementary Consulting Services (PCCS) along with Product licensing. This pricingapproach will give customers an unwritten guarantee to assess and bring down TCOduring the complete BI lifecycle. He added that the customers are really looking forsimple, quick-to-deploy and reasonably-priced solutions and TechAxes provides justthat by offering low-risk, immediate ROI solutions to the clients. About RVCF The Rajasthan Venture Capital Fund (RVCF) aims at investing in companies in Indiawith focus on Rajasthan and NCR such as Delhi, Gurgaon and Noida. The Fund'sinvestment in companies is through the route of equity, quasi-equity and debtinstruments. RVCF is being managed by a private sector Asset Management Company,Rajasthan Asset Management Company Pvt. Ltd. (RAMC) having RIICO, SIDBI, PrivateSector IT companies, Bank of Rajasthan and employees as the share-holders. RVCFwhich is operating out of Jaipur has already committed its First Fund in IT andRetail sectors and is raising Iind Fund with a corpus of Rs 100 crore.About TechAxesTechAxes offers business analytics software, providing companies with one completesolution for their many analytical needs. TechAxes web on demand Dashboards, Query,Reporting and Analysis in a unified architecture allows end users to access theirorganizationÂ's data from anywhere on the globe and view meaningful information withease. TechAxes Integrated Analytics Solution and efficient use of Service OrientedArchitecture (SOA) makes it much more versatile by getting customized to the endusers requirements of integration, scalability and performance. TechAxes packagedanalytical solutions covers multiple domain verticals - BFSI, Telecom, IT/ITES,Manufacturing and Retail.
Source: Express-Press-Release.com
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