India-based communications technology company Prime Telesystems has reportedly raised about $60m from an Asia-based telecoms company for a less than 10% stake.
The company was reported to have sold a stake by news provider VCCircle, citing a company spokesman.
Intel Capital, the corporate venturing unit of chip maker Intel, and SCSI Capital, a China-based Asian venture capital firm founded by a British professor and focused on opportunities in the digital space, are two existing investors in PrimeTel over the past 15 years, with others including Citigroup, Cheekotel Venture Fund, Sasken, PrimeTel Esop Trust and an Indian angel investor group.