Indian IT provider NetMagic Solutions raises $20M
VentureBeat Wire, February 12, 2008

NetMagic Solutions, which provides managed IT services in India, has raised $20 million in a second round of funding.

The round was led by Fidelity International Limited and prior investor Nexus India Capital. NetMagic says it will spend the money on service expansion, introducing new data centers in India and an effort to establish itself in North America.

With offices in India and Sunnyvale, Calif., the company says it provides Internet data centers, managed hosting, remote infrastructure management and mail and messaging services. It just announced that it's now offering its data center and remote infrastructure management services in North America.

Sandip Gupta, former chief executive of software company Ensim, has been named NetMagic's new president.

This article in its complete form appeared in the February 12, 2008 issue of VentureBeat Wire. It also appeared on the periodical's online portal on the following URL. Click the following link to read the archived article in its full form as it was published.