WDC Solutions to commence overseas foray with APAC
Kavitha Alexis
Financial Express, Bangalore
April 16, 2002 --
Bangalore-based WDC Solutions Pvt Ltd, dealing in wireless middleware, will make its overseas foray starting with the Asia-Pacific region by July 2002. The company has identified China as a high-potential market for its products, WDC Solutions CEO Manju S Murthy said.
WDC Solutions, started as a self-funded company with an investment of Rs 1 crore, was looking at funding for further product development and establishing a strong market presence, Mr Murthy said.
The company is looking at a series ‘B’ funding and is also planning to go in for $4 million funding in a second round for market expansion.
The company is expecting to reach cash break-even in April 2002 and is expecting revenues of $1 million in 2002-2003.
WDC Solutions offers convergence solutions and products over existing wireless technologies like WAP and SMS and also next generation technologies like 3G, GPRS, WLL, etc. WDC’s MobiPro suite of products has a customer base that includes companies like HP, Hotel Oberoi, etc. These companies were using MobiPro Team as a cost-effective solution that enabled easy communication between a mobile sales staff and office staff using SMS, said Mr Murthy.
WDC hopes to raise more venture funding by the beginning of the next quarter. Mr Murthy said talks were in advanced stages with three major VCs. However, he refused to give any details. The company plans to extend its presence in other parts of the country especially the metro cities. WDC is also aiming to be a major synchronisation solution provider with its product ‘SyncExpress’.
