Ncubate Capital Partners (Ncubate) has closed its debut transaction by picking up a significant minority stake in Pune-based Nevis Networks (India) Pvt. Ltd. (Nevis), an emerging network security provider. The funds raised from Ncubate will be used to finance product development and operations expansion across the globe.
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Radha Shelat, CEO, Nevis said, “The funding will help Nevis build a next generation product and expand the presence in existing markets and opportunistically enter newer markets. Nevis has a well established presence in the network security market in India with its indigenous NAC product. I am very pleased with this partnership and looking forward to taking the business forward.”
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Rakesh Malhotra, Founder & Managing Partner, Ncubate said, "We were very impressed by the Management team at Nevis. They have an opportunity to build a global company providing state-of-the-art security solutions. Ncubate is looking at companies with strong management teams at early stages of growth."
