Cyber-CI Technologies Announces First Round of Funding

eVentures will fund Cyber-CI Technologies, a technology start-up specializing in content management for B2B exchanges

DALLAS, July 18 /PRNewswire/ -- Cyber-CI Technologies, a Dallas, TX basedtechnology start-up company specializing in providing content managementservices to B2B exchanges, today announced the closure of its first round offunding by eVentures India Holdings Pvt Ltd., a joint venture betweenSoftbank, ePartners and industrialist P. K. Mittal of the ISPAAT group.

Thecompany has raised $2.5 million to finance its plans of setting up an officein Dallas, USA, and a Technology and Content Management Center in Pune, India.The Dallas office is being set up for business development, consulting andcustomer support, whereas the Technology R&D effort and the softwaredevelopment will be undertaken in India.

Cyber-CI offers e-catalog content management services to B2B exchangesworldwide. It was founded in January 2000, by Kirit Pandit and Dr. AnandSoman, both alumni of IIT Bombay, who realized the challenges of contentmanagement that exchanges and portals would face. The company has developedpatent-pending technology based on Artificial Intelligence, which allowsextraction and understanding of diverse information rapidly and accurately. Inthe US, Cyber-CI will offer outsourcing services for e-content management tovarious exchanges and portals. Cyber-CI's plans in India include setting up acore research team to explore novel applications of AI to online commerce. Inaddition, Cyber-CI expects to have a team of 100 IT professionals in India bythe end of its first year of operations.

Apart from the financing, eVenturesIndia plans to play an important role in the growth and development of CyberCI Technologies by assisting the company in business development and globaloperations.

According to Kirit Pandit, CEO of Cyber-CI, "One of the biggest hurdlesthat B-2-B exchanges are facing today in attracting buyers is lack of a high-quality, up-to-date catalog that enables accurate and easy searches. Theseexchanges are realizing that manually collecting and normalizing diversecatalogs from thousands of suppliers is both time-consuming and expensive.Cyber-CI's vision is to combine proprietary technology and off-shore resourcesin significantly reducing this cost and time-to-market for these exchanges.We are very excited about partnering with eVentures India. Their excellentmanagement team; hands-on operating role; strong global investors andexpertise in building global internet services attracted us to them".

Commenting on Cyber CI's foray into the US B-2-B e-commerce space, AdityaSharma, Vice President eVentures India said, "Cyber CI Technologies iseVentures' first B2B partnership. We believe Cyber-CI's unique AItechnologies; its savvy management team; strong on-site and off-shore businessoperations model; and excellent business fundamentals positions it to takeleadership in providing end to end e-content management services to B2Bexchanges and portals. As Cyber CI Technologies' partner, we offer them ourcomplete support to help them build a successful and sustainable business."

SOURCE Cyber-CI Technologies