NEA picks up stake in RT Outsourcing for Rs 65 cr

[jayanthi mandhalapu]

US-based venture capital firm New Enterprise Associates (NEA) has picked up an undisclosed stake in Delhi-based RT Outsourcing for Rs
65 crore.

RT Outsourcing offers repair and refurbishment services, technical support and call centre operations to third-party companies.

"We have been growing rapidly over the last couple of years and with this investment we will be expanding our services lines and geographic spread through organic and inorganic means. NEA has picked up a stake in RT Outsourcing for Rs 65 crore," RT Outsourcing Managing Director Shammi Moza said.

He declined to divulge the size of equity diluted but said it was more than 10 per cent.

This is the third round of capital infusion in RT Outsourcing. The company has received funding from Motilal Oswal (Rs 31 crore in 2007) and and Sonoma Management Partners.

Asked about acquisition targets, Moza said it has still not identified any companies but would consider companies offering prospects of technological or geographical expansion.

"RT presents a very exciting opportunity to participate in the India growth story. RT's leadership position in the after sales service industry coupled with its market credibility creates a compelling value proposition," NEA Executive Director Ben Mathias said.