Bangalore-based outsourced software product development firm ‘People 10’ has raised about INR 10 crore from US-based fund Ideaworks Partners in a Series A round of fundraising. Founded in 2011, the firm has presence in the US, Germany and Canada, besides India. RSVP Capital Advisors was the investment advisor for the transaction.
People10 plans to use the funds to build a stronger local presence in the US and expand its client base. It plans to expand the size of its workforce from the current 60 to 100 in the next quarter. The company expects to earn revenue of INR 10 crore by March 2015.
Source: Economic Times
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