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GVFL to fund RapidRadio's RFID Technology|
- By CXOtoday Staff, Feb 21, 2007 1739 hrs IST
- Tags : RapidRadio, RFID technology, GVFL
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GVFL, a Venture Capital company would invest an initial Rs eight million in RapidRadio Solutions Pvt. Ltd., a technology start-up spun off from the NirmaLabs incubator program.
RapidRadio Solutions began its operations in 2005 in RFID (Radio Frequency Identification) technology. GVFL will make the seed stage investment from its Rs. 270 million Gujarat IT Fund, a press release said here today.
"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 programs to identify and nurture promising ideas and entrepreneurs," says Vishnu Varshney, CEO of GVFL Ltd.
"Being an enabling technology and not just a product, the opportunity for RFID application is incredibly diverse and large. Various sectors like manufacturing, retail, healthcare, vehicle tracking, inventory management with a compelling need of asset tracking are aggressively working towards the deployment of RFID," he adds.
"Radio Frequency Identification (RFID) is a next generation tool of AIDC technology that facilitates business processes automation. RapidRadio with its expertise in RFID technology is focusing on designing, developing, innovating and deploying RFID hardware solutions. The funding will support our rapid growth plans. We will be deploying the funds for expanding our product range to include Ultra-High Frequency (UHF - 900 MHz) products and also developing Active RFID based products," informs Dhaval Kotecha, CEO, RapidRadio.
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Discussion Board
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Re:
by Santosh on Oct 03, 2008 02:42 PM
It is learnet that GVFL's top manager is not allowing any senior professional or second line person to continue in their services for a longer period, he managed to get resignation of Mr. Ajit Varma, Mr. Dhruve Chaudhuri, Mr. Pramod Pastaria, Mr. Ricky Gandhi and Mr. Bharat Kanani by creating such environment in side and out side GVFL, where it becomes difficult to work under him, in this process he managed to get letters and E-mails from GVFL's investee companies against these employees, to justify their leaving GVFL. -
by sudarshan on Jun 09, 2007 01:27 PMIt has been learnt that significant financial irregularities have been recently uncovered at GVFL involving senior executive Bharat Kanani's role in company divestments and dissolutions. Kanani was rumoured to be the successesor of GVFL head honcho Vishnu Varshney, whose resignation is being demanded by senior govt of Gujrat officials.
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by Bharat Kanani on Sep 03, 2007 08:24 AMMr. Sudarshan( I know you are not sudarshan) your question dated 2nd September 2007 is not reply to my comments dated 20th August 2007, I know you have all the infomration about GVFL, however you may still verify from the minutes of the Board meeting of GVFL held on 30th June 2007 about my service. Or call some one on 91-79-26581285 (GVFL Office) and find out about your question, I am sure you will get proper reply. Other wise withdraw all this blogs against me unconditinally.
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by Jitesh Shah on Sep 08, 2007 07:24 PMI conducted through investigation in the matter, it was concluded that, this campain (blogs) against GVFL, Mr. Varshney and Mr. Kanani is to put pressure on them to cover financial irregularity made by ex-GVFL employee who made blunders in making investments which were uncovered by Mr. Kanani, further disbursement for this investment was also stopped. The concerned employee along with the investee company's promoters are releasing blogs in different names against GVFL, Mr. Varshney abd Mr. Kanani, as a result of this Mr. Kanani resigned from GVFL, GVFL Board and Mr. Varshney wanted Mr. Kanani to continue, however he decided to leave GVFL.
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by For GVFL Limite on Jul 09, 2007 02:09 PM
