Syntensia AB gets $3.5 million funding

Syntensia AB gets $3.5 million funding

The funding allows Syntensia to continue growth in India

Wednesday, June 04, 2008

NEW YORK, USA: Syntensia AB, provider of subscription network security-on-demand solutions, has secured financing of $3.5 million with an option for an additional $4 million through a share issue directed to InnovationsKapital, Nordic venture capital firm, and a group of private investors in Sweden and abroad.

Stockholm-headquartered Syntensia, with sales offices in twenty major Indian cities, Philippines and Cambodia was established in 2005 by Kaushik Thakkar.

It focuses on providing all-in-one network security solutions for SMB in high growth emerging markets.

"This investment allows Syntensia to continue our solid growth in India and our expansion in Cambodia and the Philippines," said Syntensia CEO Johan Hansson.

"It also makes possible expansion into other Asian markets. We are particularly pleased to have attracted the support of InnovationsKapital, which has a reputation for backing innovative growth companies in Scandinavia."

“Syntensia is capitalizing on the powerful combination of a low cost, high demand product offering to fast growing markets. We are very excited about the company’s potential,” said InnovationsKapital’s Investment director Magnus Berglind.

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