RT Outsourcing Services Limited has announced that the company has raised Rs 65 crore from US based global venture capital firm New Enterprise Associates, Inc. (NEA). The company has opted for the funds to fuel its future growth plans.

With the investment coming in, RT will 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.

Mr. Shammi Moza, Managing Director, 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. This investment will help us continue our aggressive growth rate and expand into additional service line and offerings. Our customers have found a great value proposition in our integrated service model which has reduced their TCS (total cost of service).”

Mr. Pravin Jain, CEO, SMP said, “We wanted a partner that had significant experience in developing hi-tech, hi-growth companies. The NEA team, their network and global experience can provide the value-addition required to help guide RT’s high growth trajectory”.

Ms. Ben Mathias, Executive Director, NEA Ltd, 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 Outsourcing Services Ltd. is the leading provider of after-sales services, reverse logistics, and call centre operations to most of the Fortune500 OEM & ODMs in India. The Company has grown at a CAGR of above 40% for the last 4 years and has been profitable inception in 1995. 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.

IDFC-SSKI group acted as the exclusive financial advisors to RT outsourcing on the transaction.

New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs create and build major new enterprises that use technology to improve the way we live, work and play. Since its founding in 1978, the firm has followed the same core principles: supporting its entrepreneurs, providing an excellent return to its limited partners, and practicing its profession with the highest standards and respect.

(With inputs from the Press Relations Company for RT Outsourcing)