Mimosa Systems, a Silicon Valley based company involved in data management
solutions, launched its India develop-ment center in Pune. The com-pany is
foraying into the Indian market in partnership with In-Reality Software on a
Build-Operate-Transfer(BOT) model.
In-Reality will provide its operational excellence in managing this center on
a day-to-day basis until it is trans-ferred and becomes a subsi-diary of Mimosa.
To drive this effort, Mimosa has brought on board Makarand Vaidya as the
director for the Pune develop-ment center. Vaidya comes to Mimosa from the data
protec-tion group of Veritas Software in India. Dr TM Ravi, its President and
CEO informed that the com-pany currently has strength of 20 people in the US and
25 in India. According to him, the Pune center would remain as a center of
excellence for e-mail and Microsoft server technologies.
Mimosa has received fun-ding to the tune of $ 10.5 million from Clearstone
Venture Partners, August Capital and DotEdu Ventures for its expansion plans.
Sumant Mandal, Partners MD, Clear-Stone Venture said the com-pany is very
excited about the opportunity in India.
A five-member team of ClearStone Ventures is curren-tly scouting companies in
Mumbai, Pune, Bangalore and Delhi. On Mimosa, Mandal said that e-mail archiving
and reco-very were some of the critical issues that IT companies need to deal
with new regulations require companies to treat email data as business records.
CyberMedia News
Pune