RT Outsourcing raises Rs 650 mn

RT Outsourcing Services announced that it has raised Rs 650 million from US-based global venture capital firm New Enterprise Associates Inc. (NEA) for its future growth. Industry consolidation and greater emphasis on outsourcing has seen RT Outsourcing win more business from new and existing customers.

With the investment coming in, RT would now plan to aggressively expand its presence in the automation business, high-end networking and storage systems. In addition, RT intends to enter new segments including defence, building management systems and integrated infrastructure management services.

Shammi Moza, MD, RT Outsourcing said, "We have been growing rapidly over the last couple of years and with this investment we will be expanding our services lines and geographic spread through organic and inorganic means.”

He added that this investment would help them to continue their aggressive growth rate and expand into additional service line and offerings. Their customers have found a great value proposition in their integrated service model which has reduced their TCS (total cost of service).

Ben Mathias, Executive Director, NEA, said, "RT presents a very exciting opportunity to participate in the India growth story. RT's leadership position in the after sales service industry coupled with its market credibility creates a compelling value proposition."

RT employs more than 3,500 people with a pan-India reach of over 200 plus locations. RT's customers include MNCs from IT, Telecom, Electronic Security and Consumer Electronics industries. The company has also started new operations in Singapore to tap into South East Asia market, the release added.