GVFL Makes Seed Investment Of Rs 8 Million In RapidRadio

Venture capital fund GVFL Ltd has made a seed investment of Rs 8 million ($180,000) in RapidRadio Solutions Pvt. Ltd, a technology start-up spun off from the NirmaLabs incubator program. RapidRadio, set up in 2005, works in the area of RFID (Radio Frequency iIdentification) technology.

Rapid Radio is the sixth investment from the Rs 270 million Gujarat IT Fund of GVFL. Its previous investments include Net4Nuts, Ecube, Icenet, Anupam Globalsoft and Convergelabs from the fund. Rapidradio is GVFL’s first investment in a start-up from an academic incubator program.

“The RapidRadio investment is a new milestone in our endeavor to provide critical seed stage and early stage funding to innovative start-ups that are poised to take knowledge based test-marketed ideas into commercial production. We are now stepping forward into campus incubation programmes to identify and nurture promising ideas and entrepreneurs,”

said Vishnu Varshney, CEO of GVFL Ltd.

Dhaval Kotecha is the CEO of RapidRadio , a friend of mine! Congratz Bro!