Sicom Venture Capital invests in Persistent eBusiness

Our Bureau in Pune

Persistent eBusiness Solutions Pvt Ltd (PeBS), a solutions provider with expertise in supply chain and Web solutions, announced on Tuesday that Sicom Venture Capital Fund has invested in the company to assist in the development of its e2eConnect suite of products. PeBS is setting up a subsidiary in the US and expanding operations in the UK and Germany.

e2econnect is an XML-based Web services platform. XML is being increasingly adopted the World over for B2B integration. It helps businesses automate their business processes across their extended enterprise and achieve seamless integration of enterprise applications with those of their supply-chain partners, banks, and logistics providers.

The investment by Sicom Venture Capital Fund (SVCF) managed by Sicom Capital Management Limited (SCML) will help provide critical support in product development, as well as expand marketing opportunities for the company products globally. Umesh Kudalkar, CEO, Sicom Capital, said, “We will work with PeBS to leverage strategic export and marketing opportunities for the company’s products in the global markets In PeBS, we saw a balanced mix of technology capabilities and business expertise.”

Arvind Pandey, MD, Persistent eBusiness Solutions said, “Significant growth is going to happen in WebServices space and our e2eConnect platform is one of the leading WebServices development platforms, targeted at large and medium companies.”