PUNE: SICOM Venture Capital Fund (SVCF) has invested in Persistent eBusiness
Solutions Pvt. Ltd. (PeBS), a Pune-based software solutions provider with
expertise in supply chain and web solutions. The investment would be used to
assist PeBS in the development of its e2eConnect suite of products.
PeBS is setting up a subsidiary in US and expanding operations in UK and
Germany. e2eConnect is an XML based Web services platform. XML is being
increasingly adopted the World over for B2B integration. It helps businesses
automate their business processes across their extended enterprise and achieve
seamless integration of enterprise applications with those of their supply chain
partners, banks, and logistics providers.
The investment by SVCF managed by SICOM Capital Management Ltd. (SCML) would
help provide critical support in product development, as well as expand
marketing opportunities for the company\'92s products globally. It will also
enable PeBS to acquire best practices prevalent in the software industry
worldwide and in India.
Commenting on the investment in PeBS, Umesh Kudalkar, CEO, SCML said,
"This demonstrates our commitment to help technologically superior
companies like PeBS to deliver excellent products and enterprise value. We will
work with PeBS to leverage strategic export and marketing opportunities for the
company\'92s products in the global markets In PeBS, we saw a balanced mix of
technology capabilities and business expertise. This mix appeared as a winning
combination for developing business integration products, and we decided to join
as the third partner".
According to Arvind Pandey, managing director, PeBS, significant growth is
going to happen in web services space and their e2eConnect platform is a
WebServices development platforms, targeted at large and medium companies.
"Our innovative product coupled with competitive price point is driving
our growth even in the current economic conditions", he added. PeBS is
already doing projects for companies like Cosmo Films, Cummins, Finolex,
Mahindra etc.