After struggling for over two years through the global meltdown, Bangalore-based Elina Networks seems to be seeing traction in the broking space. “The company would stay focused on the India market while expanding its reach in select markets abroad,” its Chief Executive, Mr Shekar Nair, told Business Line .

Elina has tied up with Meridian Technologies in Africa to gain a foothold in that market and with Sabme, a consulting company in West Asia to expand its reach there.

The company provides IT services to customers in the broking, education, retail and logistics/distribution businesses.

Mr Nair said Elina was one of the few networking technology start-ups that managed to pull on despite being hit during 2007-09.

The company is expecting its cash-flow to break even this year.

“Our business has grown more than a 100 per cent, and our plan and targets for the next year would depend on the market spend,” he said without quantifying the business target.

Growth strategy

To a query on the growth strategy, he said, “Elina enables business transaction continuity from branches-level to head-office while providing visibility to the enterprise. Over 300-plus customers are using our product at present. We plan to strengthen our reach in the northern and western parts of the country through our channel partners,” he added.

Elina has around 40 marketing and technical support partners. Mr Nair said the company would focus on channel expansion and innovation in the coming years.

Asked about the resources to take care of expansion plans, he said, “We took very little money. We have made more revenue than investment. However, we are looking for venture capital funding of $3 million. The process is on, and the money expected soon.” He did not name the funding agency.

Related Topics