FrontPoint gets $2 m funding

BANGALORE: FrontPoint Systems, an e-solutions company, has said that it has

received $2 million as a part of its first round of funding from Sweet Solutions

Ltd. of Mumbai. With this capital inflow, FrontPoint Systems will look at

increasing its presence in the global markets and shortly launch its operations

in Europe. The company’s European offices will be located in Turin, Italy, and

Frankfurt, Germany. It already has a global office in the US.

FrontPoint, which provides concept to completion e-solutions, will now focus

on R&D in its technology products division. The company will pioneer a suite

of Web-based messaging products, such as corporate branded mail, Net conference,

and Net voice which are created uniquely to provide cost and technological

advantage to end users. The company plans to launch ‘ready-to-use’ products

in the domestic and global markets.

Speaking on the investments FrontPoint president-global operations, Arun

Shroff said, "FrontPoint Systems has been a forerunner in deploying

Internet technologies. This investment will further accelerate our growth. While

we will continue to add to our portfolio of e-services, we will also increase

product offerings, truly making us a 360-degree e-solutions company. Our

presence in the US and the forthcoming offices in Europe, will enable us to

provide value-added services to larger global markets."

FrontPoint CEO Sanjay Shroff said, "FrontPoint Systems, has been growing

from strength to strength. The Research and Development center at Chennai has

been the backbone of our business for over four years now. FrontPoint Systems

now has over 400 clients and 70 employees, which are expected to double by March

2001. The company, which saw a turnover of over Rs1 crore in 1999, is growing at

an estimated 600 per cent yearly"

FrontPoint is in the process of constructing www.hidealpoint.com,

a first of its kind vertical portal for the $45 billion Italian

electrical/electronics market. The most recent project of the company is www.southernrailway.org,

the Web site that puts ‘the Indian railways on the Net’.