Thursday, February 1, 2007

RPO company gets Rs. 150 crores from angel investors

Elixir Web Solutions, a recruitment process outsourcing (RPO) company, has received angel funding of Rs. 150 crores. It will invest over the next two years to set up a knowledge centre in Dehra Dun and for the acquisition of a mid-sized company in the US. The Rs. 20-crore company is growing at 250% year-on-year basis and is expecting to capture 10% of the Rs. 6000 crore-RPO market this year.

The company has invested Rs. 4 crores in Pune for setting up of our deliver centre. Over the next two years, the company will invest Rs. 60 crores in the Dehra Dun Software Technology Park of India (STPI) for setting up of a 2000-seater knowledge centre and the back office operations. It is also planning a delivery centre in Goa STPI.

The company is currently present in the US, UK, Canada and Australia through channel partners. It is now looking at establishing a greater global presence in the US through an acquisition of a mid-sized web solutions company with revenues of Rs. 30 crores and would announce the acquisition by August. By 2008, the company plans to set up its own delivery centre in Eastern Europe in Romania. The expansion includes ramping up of its headcount of 450 people to 600 people by the end of the fiscal. As for Pune, it will grow from 60 people to 120 people. Elixir caters to 14 verticals, which include IT/ ITeS, life sciences, media, research and analytic, aviation, FMCG, and logistics.

Read the article in Business Standard.

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