NEA Invests In Novatium Solutions

New Enterprise Associates (NEA), a U.S.-based venture capital firm, has announced an investment in Novatium Solutions, a company committed to making affordable and pervasive computing a reality in India.

Headquartered in Chennai, Novatium Solutions has launched a computing service with a vision to reach 50 million homes in the next five years. The NEA investment will be used to support Novatium’s expansion plans beyond Chennai. As a result of the investment, Krishna “Kittu” Kolluri, NEA general partner, and Ben Mathias, VP, NEA India, will join the board of Novatium.

“We are delighted to be partnering with Novatium Solutions and are confident that it will significantly help drive computing and broadband penetration in India,” said Mathias.

“NEA brings significant depth of expertise in this industry and we look forward to the firm’s support as we pursue our goal of providing computing to the next billion in an innovative and cost-effective manner,” said Alok Singh, CEO of Novatium Solutions. “In an era of growing connectivity, taking computing to the masses will have an incremental impact on society far beyond an economic one. The Nova NetPC is a very simple and user-friendly device that will enable access to computing for the masses.”