iCelerate chalks out $7-million expansion plan

Kavita Nair in Mumbai

Bangalore-based iCelerate, the managed services company, will be investing $7 million in expanding its development centres and offices to Europe and the Middle East. The company was recently funded to the tune of about $11 million.

Mr Arun Tolani, chief executive officer, iCelerate, said that of the total investment $3 million will be deployed in India on their development centres in Pune and Bangalore and $2 million each in Europe (London and France) and in East and Central America. The remaining $4 million will be utilised for capital expenditure. He added that whatever capital expenditure is undertaken, a bulk of it will be deployed in the development centre in India and California.

He says: “Our aim is to create a wireless-enabled enterprise that would enable better customer service.” The company is also working on inventory track applications, products of which will be released early next year.