Swipe raises Rs 30 crore funding from Kalaari Capital

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

 

Mobile technology start-up Swipe Telecom has announced that it has raised Rs 30 crore in venture capital funding from Kalaari Capital. Swipe is a leading mobile technology company that develops and markets innovative Tablets and Fablets (large smart phones) in India.

Swipe has the widest range of Tablets and Fablets (total 23 devices launched till date), of which Swipe has the distinction of being the first to launch 16 new products with no pre-existing equivalents, including the first 3D Tablet and the first Tablet customized for kids in India.

Swipe, in a short time frame, has emerged as the leading Tablet brand by units sold in Rajasthan, Punjab, Chandigarh, Himachal Pradesh and J&K and among the top two sellers in Mumbai and Gujarat. Swipe has been one of the fastest-growing Tablet brands in India, having grown at over 300% in the last year. In a rapidly growing and competitive market, Swipe’s strategy is to capture market share through innovative early-to-market products and distinct product differentiation.

Commenting on the development, Shripal Gandhi, Founder & CEO, Swipe said: "Funding from Kalaari Capital is another milestone in our journey to become the leading Tablet brand in India. Swipe will continue to lead in making available cutting-edge technology that is highly customized for the Indian consumers, at attractive pricepoints. We are honored to be associated with Kalaari Capital, as they have a legacy of funding strong market-leading technology companies. We look forward to a meaningful and mutually beneficial association with Kalaari......See More