nivio secures $21 million funding

Herald Globe (IANS) Friday 10th February, 2012

Cloud computing start-up nivio has secured $21 million funding from the Videocon Group and AEC Partners, a US-based private equity firm with specialised holdings in telecommunications and technology.

The investment is for expanding engineering efforts in nivio's Palo Alto officein California, US, and further roll-out of the cloud platform across nivio's operating regions in Europe, Middle East, India and Australia, a company statement said here Friday.

"We are extremely happy to bring two new passionate investors into our team," said Sachin Dev Duggal, founder and 'chief wizard' at nivio.

According to nivio, which allows subscribers to rent software applications from companies like Microsoft and Adobe, the funding announcement comes at a time when the market for cloud desktop computing is rapidly expanding.

With the surge in tablet adoption, millions of people need the freedom to use Microsoft Windows, desktop apps and synchronised storage, working seamlessly across any screen.

At nivio, users can access a full Microsoft OS in the cloud, when and where they need it, on any flavor of tablet, laptop, or PC, with files synched seamlessly, the statement added.