Tata Tech to get Rs 141.06 crore equity funding

BANGALORE: Tata Technologies, a global leader in engineering services outsourcing and product development IT, today announced it has completed a round of equity funding for Rs 141.06 crore (USD 30 million) from Alpha TC Holdings Pte. Ltd and Tata Capital Growth Fund I.

The investment represents a 13.04 per cent equity stake on fully diluted basis, it said in a statement.

Alpha TC Holdings Pte. Ltd. and Tata Capital Growth I, specialise in investing in mid-sized companies within India that are market segment leaders which demonstrate high growth potential, it said.

Patrick McGoldrick, Tata Technologies Managing Director and CEO, said "with this investment, we will continue to aggressively grow our business and provide our customers with better, more innovative products."