Betul Oil Group to invest $ 5 m in Sanovi Technologies
Betul Oil Group will invest up to US $ 5 million in Sanovi Technologies India, an IT disaster recovery management solution provider, to expand the sales presence of the Sanovi DRM product in the market and increase its R&D activities. Sanovi is looking to expand its presence in the Middle East and APAC region.
Betul Oil, a subsidiary of the Betul Oil group, is engaged in processes like solvent extraction, refining, manufacture and trading of oils and allied products.
Shreans Daga, MD, Betul Oil believes that disaster recovery is a hot area and the addressable market size is large. He further stated, “Sanovi’s product is running at several marquee customers across India and Middle East. We believe this is a huge opportunity for us.”
Sanovi stated that it is forecasting Rs.100 crore revenue targets in the next three years. Chandra Sekhar Pulamarasetti, CEO, Sanovi Technologies feels that disaster recovery operations are very complex and completely manual today with no visibility into SLA compliance. “With increasing threats globally, organizations are actively looking to deploy resilient DR programs. Sanovi solutions provide CIO the assurance that their DR infrastructure will work when required,” Pulamarasetti concluded.
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