Mobile VAS Technology Provider TeleDNA Bags US$10 Million Funding from Peepul Capital LLC

Bangalore, Karnataka India (PressExposure) November 06, 2008 -- Leading Mobile value added technology enterprise, TeleDNA Communications Private Limited, (www.teledna.com) has announced that it has been successful in raising funds to the tune of US$10 million (Rupees 50 crore). Mauritius-based institutional investment agency, Peepul Capital LLC has invested in the Bangalore-based TeleDNA impressed by its impeccable credentials, customer-base and high MVAS (mobile value added services) opportunities in the Indian and global markets. TeleDNA specializes in providing highly scalable, high capacity, robust telecom grade software infrastructure required for mobile network operators and enterprises - which allows them to provide differentiated, sustained and quality value added services to their customers.

Commenting on the funding, Mr. Praveen Nallapothula, Managing Director and CEO TeleDNA, said, "We are very pleased to be associated with Peepul Capital and its team as it brings key strategic value in our quest to become a world class MVAS Technology Company with a global footprint. We will be utilizing the funds to create sustained, mission critical, mass market revenue generating VAS applications bundled with our matured VAS infrastructure products to any mobile telecom company and large enterprise. TeleDNA will expand its existing sales and support functions for catering to business demand and growing customer base. Company will also venture into Managed Services/MVNO offerings with technologies where operators have not made any significant revenues. For example, MMS and CellBroadCast has not been a success story for network operators due to lack of compelling applications, complications around service subscription, device settings and billing plans." said.

Mr. Vipul Parekh of Peepul Capital said "The investment is in line with Peepul's belief in the growth in India's telecom sector and TeleDNA's commitment and ability to deliver state of the art VAS products and services. With Peepul's investment, the company will be poised to take full advantage of the significantly large telecom VAS market both in India and abroad."

TeleDNA has an excellent customer base with BSNL, one of the top tier telecom operators in India, being one of its customers. In addition, TeleDNA has product installations in 14 other telecom networks around the world and also provides mobile

VAS solutions for Indian enterprises. TeleDNA products provide differentiated features like Geographical Redundancy, Highest transactions per second (TPS) with smallest foot print of hardware, anti virus/spoofing/spam modules, differentiated content billing mechanisms and best of the breed statistical reporting, performance and business intelligence tools.

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Press Release Submitted On: November 06, 2008 at 1:49 am
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