Mumbai, Sep 6: Venture capital fund, Marigold Capital Management will invest $1 million in the Bangalore-based Trigent Software Ltd. The investment is to help Trident expand operations in offshore development and onsite solutions for e-commerce and application development.Trigent is planning to enter Japanese and European markets and will consolidate its operations in the United States, where it has subsidiary based at Southborough.
According to Trigent chairman and managing director, Bharat Khatau, the company is aiming at a turnover of $8 million from the current $4.5 million, a growth of 77 per cent.
For Marigold Capital Management, a group company belonging to the Mariwallas, this is the third investment plan. It had earlier investment in another software company, Ajax Software based in Mumbai and Nirlep non-stick cookware.
Trigent has entered the e-business development scene through its alliances with consuling firms, Granitar and Eprise. It has clients including Texas Instruments and SybaseInc.
Trigent has an offshore development facility at Bangalore, an export oriented unit set up under the software technology park scheme. The company has a development team of 150 people.
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