Raising fund upto Rs250/- crore Swipe Technologies boost manufacturing & revamp R&D

To boost up its manufacturing capacity and to increase research and development (R&D), Swipe Technologies plans to raise up to Rs 250 crore from private equity firms.

Founder and CEO, Shripal Gandhi has said that the company is targeting to raise Rs 250 crore through private equity capital fund by mid-2016

Gandhi said talks are at an advanced stage with two major telcos in the 4G space for bundling offers. He said cost-effective 4G devices backed by low-cost 4G tariffs will be a major driver for the government’s plan to deepen Internet penetration in the country.

Last year, the company raised about Rs 32 crore from venture capital firm Kalaari Capital to set up a manufacturing facility at Chakan, in Pune district. Production at the plant is expected to begin in 2016.

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