Geodesic Techniques, a leading player in steel-based construction, today announced it has received an investment of about $11 million (Rs 45 crore) from global venture capital fund Mayfield and SVB in return for a minority stake.


</p><tr><td><p class='TableClas'></p><P class='TableClas'><DIV CLASS=rightDiv><script language="JavaScript">
		google_ad_client = 'businessstandard';
		//google_ad_client = 'ca-businessstandard_js';
		google_ad_width = 200;
		google_ad_height = 200;
		google_ad_format = "200x200_as";
		google_ad_type = "text";
		google_ad_channel = "";
		//google_color_border = "FFFFFF";
		google_color_border = "F7F7F7";
		//google_color_bg = "FFFFFF";
		google_color_bg = "ffffff";
		//google_color_link = "639ACE";
		google_color_link = "0253B7";
		google_color_text = "000000";
		google_color_url = "D63431";
		//google_skip = adsenseSkip;
		</script> 
		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>The funds would be utilised for setting up a steel fabrication unit in Bidar and for other working capital requirements, a company press release said.&nbsp;&nbsp;&nbsp;&nbsp; </P>
</p><p class='TableClas'>Geodesic is a design and build player specialising in steel-based construction and signature structures. </P>
</p><p class='TableClas'>The company is involved in projects like Mumbai and Delhi International Airports. </P>
</p><p class='TableClas'>The company has to its credit corporate customers and end-users such as Infosys, TCS, L&amp;T, GVK and GMR.&nbsp;&nbsp;&nbsp;&nbsp; </P>
</p><p class='TableClas'>It is currently in the midst of an aggressive expansion plan and the fund infusion is expected to help meet its growth objectives.&nbsp;&nbsp;&nbsp;&nbsp; </P>
</p><p class='TableClas'>Mayfield has been an active investor in India. This marks its sixth investment in India, following investments in Tejas Networks, Satya Paul, Bharat Matrimony, Servomax and Paymate.</P>
</p><p class='TableClas'></p></table>


Geodesic Techniques gets Rs 45 cr for investment

More From This Section

Posco land acquisition resumes amid protests

Diageo to buy half of Mallya's South Africa beer biz

Average money spent for new players dips

'IndiGo did not comply with AAC guidelines'

Also Read

IIT Bombay alumni's pledges $7 million

Honda launches 125 CC CBF Stunner

JK Tyre Q1 net up marginally at Rs 20 cr

United Phosphorus net profit rises two fold in Q1

Educomp to buy 76% stake in A-Plus Education

Explore News