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IMO Communications receives Intel Capital Investment
       
Funding goes to indiamarkets.com
       
Bangalore, January 17, 2001 - IMO Communications Pvt. Ltd., a business-to-business (B2B) e-commerce enabler specializing in small to medium sized enterprises, today announced that it has received an investment from Intel Capital.  

The investment will be used by indiamarkets.com (indiamarkets), a division of IMO Communications, to further enhance its end-to-end B2B manufacturing solutions and enablement services. This includes development of B2B product and service offerings as well as setting up the physical infrastructure to implement solutions and provide training services to customers.

indiamarkets is a leading B2B manufacturing marketplace specializing in 29 vertical sectors spanning a diverse range of industrial activity from chemicals to electronics to textiles. The company enables interaction between prospective business partners in these vertical communities, not just for products and product intermediates, but also for surplus inventory, used machinery and industrial assets, business alliances and contract manufacturing. indiamarkets also provides end-to-end e-business solutions, including e-procurement, supported by a physical network of 30 e-business centers throughout India for vendor development and training initiatives.

       

"At indiamarkets, we look forward to working with Intel Capital and using their investment to develop more low cost and effective Internet solutions for Indian businesses," said Rohan Ajila, CEO, indiamarkets. "We believe this will act as a catalyst to the adoption of the Net as a marketplace amongst SMEs and the manufacturing community overall."

"It is important for us to support localised business models which will drive the adoption of the internet and enable online B2B commerce in India," said Avtar Saini, Director, South Asia, Intel Asia Pacific. "We hope that this will provide thousands of small and medium enterprises across India with access to cost effective technology solutions."

About indiamarkets.com
indiamarkets.com is Indiaís premier and most comprehensive business-to-business (B2B) enabler, creating a virtual marketplace for buyers and sellers from within the country, and around the world. indiamarkets.com is an aggregation of 29 industrial supplier communities representing over 150 diverse product categories. indiamarkets.com caters to the sourcing and business information needs of over 48,000 registered users. It focuses on improving business volumes and profitability by enabling judicious business decisions towards improving purchasing, production and supply chain efficiencies. It provides a platform for business-to-business intermediation, supported by information and insight.

indiamarkets.com was launched in December, 1999. The indiamarkets team has extensive experience in an array of industries varying from insights into the information needs of the manufacturing and trading community. Website: www.indiamarkets.com.

About Intel Capital Intel Capital, Intelís strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intelís strategic interests. In the Asia/Pacific region, Intel Capital invests through Intel Pacific Inc., a subsidiary of Intel Corporation.

For further information please contact:
Aparna Kiran Rao, indiamarkets.com, Tel: 080 2267849, aparna@indiamarkets.com

       
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