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July 29, 2008

GVFL invests Rs. 11 Crores in tool maker for diamond industry



From Press Release:

GVFL Limited, India’s pioneer Venture Capital Company announces an investment of Rs. 110 million in Sahajanand Laser Technology Limited, India’s one of the largest manufacturers of Laser Systems for Diamond Industry. GVFL will make the investment from its Rs. 650 million SME Technology Venture Fund. Sahajanand Laser Technology based in Gandhinagar will be utilizing the funds in the expansion of their range of high – end laser machines.

Sahajanand Laser is the 65th investment being made by GVFL in innovative technology companies across India.

About GVFL Ltd.

GVFL Limited, started by Gujarat Industrial and Investment Corporation (GIIC) at the initiative of the World Bank in July 1990, has recently launched SME Technology Venture Fund of corpus Rs. 2500 million. The SME Fund, a pan-India fund, is used for investing in various projects of both Small & Medium Technology Companies in IT, Biotechnology, Nanotechnology and other sectors. GVFL Limited has made its first investment from the SME Fund in Sahajanand Laser Technology Limited. The investment of Rs. 110 million in Sahajanand Laser Technology Limited is a second round of funding. The first round of investment of Rs. 40 million was made in the Company from Gujarat I.T. Fund by GVFL.

Over the past 18 years, GVFL has raised six Venture Capital Funds (VCFs) – GVCF 1990, GVCF 1995, GVCF 1997, Gujarat IT Fund, Gujarat Biotechnology Venture Fund and SME Technology Venture Fund with a combined capital of over Rs. 2041 million. The Funds were invested in 64 technology start -up companies. Last year, GVFL has liquidated its first fund GVCF-1990 with profits. Some of GVFL’s significant success stories include Deccanet, eInfochips, Scicom, Parsec Technologies, Neilsoft, 20 Microns and several others.

About Sahajanand Laser Technology Limited

Sahajanand Laser Technology Limited, an ISO 9001:2000 certified company, is a pioneer in the World Of Lasers in India. Sahajanand Laser is the first Indian Company to introduce a Fiber Laser Cutting Machine with Linear Drives in World. The Company has several national & international patents. Mr. Arvind Patel, Promoter & Managing Director of Sahajanand Laser Technology Limited is a renowned technologist known for his inventions in the field of Laser Machines. He has also received many national awards for his innovative laser technology.

The company offers total solutions for diamond processing and wide range of laser systems for diversified industrial applications such as: Laser Cutting, Marking, Welding, Micro Machining, Solar Cell Scribing/Cutting etc. SLTL is one of the few manufacturers in the world providing customized CNC Laser solutions.
In an environment of rapidly evolving technology, the company has carved out a special position for its products with in-house strong multi – disciplinary R & D team consisting of Research scholars, Software engineers, Electronic – Mechanical – Instrumentation engineers, Laser specialists etc. The company strives for excellence through innovations and research.

It provides solutions to Scientific & Research Institutes, Government Organizations in India and abroad. It has its offices in Ahmedabad, Gandhinagar, Surat, Mumbai, Delhi, Pune and Chennai. It also has international presence through its offices in China, Germany, U.K. and U.S.A. It is exporting to Thailand, Russia, USA, Sri Lanka, Israel, Namibia, Dubai, Angola, Botswana, Saudi Arabia and others.