Betul Oil Group invests in Sanovi Technologies

Sanovi Technologies, one of the leading
IT disaster recovery management specialist, has received investments
from Betul Oil Group, to expand the sales presence of the Sanovi DRM
product in the market and increase its R&D activities.

Betul Oil Group will invest up to US $
5 million on expanding market reach for Sanovi and furthering R&D
in Sanovi products. Sanovi is looking to extend its market leadership
in India and expand its presence in the Middle East and APAC region.
Betul sees this as a strategic investment and their entry into the
software sector. Betul Oil, one of the leading company of the Betul
Oil group, is engaged in solvent extraction, refining of edible oils,
manufacture and trading of de-oiled cakes, animal feeds, specialty
ingredients and development of hybrid seeds, that extract oils. Betul
Oil also procures crude oil from third parties and retails refined
edible oils.

Shreans Daga, MD, Betul Oil says, "We
are very excited about the development. We have been looking for a
suitable opportunity to invest in IT. Disaster recovery is a hot area
and the addressable market size is large. We have known Chandra and
other key team members for quite a few years now and are impressed
with their knowledge of the market and in how far they have grown the
business. Sanovi's product is running at several marquee customers
across India and Middle East. We believe this is a huge opportunity
for us. This investment helps us enter into the attractive software
product business."

The financial year 2010 has proved to
be the most consistent year for Sanovi Technologies and it has ended
in the black. The company is forecasting Rs100 crore revenue targets
in the next three years. Chandra Sekhar Pulamarasetti, one of the
founders of Sanovi Technologies, has taken over as CEO of Sanovi
Technologies. Chandra says, "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
have significantly simplified DR operations for customers. Sanovi
solutions provide CIOs the assurance, that their DR infrastructure
will work when required. Currently, we are experiencing a strong
demand for our products and are looking to expand into other markets
outside India." Chandra continues, "As the industry came
out of recession, we planned for a speedy growth and were looking for
a strong partner, who will support us in our expansion plans and also
work with the company in our efforts to create awareness about
Disaster Recovery at the policy level. Disaster Recovery Management
is an emerging space and a strong product portfolio is very critical
for the company to grow and succeed.”