Online marketing firm id8Labs plans to raise up to USD 6-8 million through private equity in the next three months.
Amit Tripathi, Managing Director, id8Labs said, “We have appointed Viedea Capital Advisors to assist us in our fund raising plans. We are currently in talks with some private equity firms in India and USA and hope to conclude the deal by June. We plan to raise USD 6-8 million in the first phase to expand our franchise in Indian and global markets through offices in Dubai, Singapore and Philadelphia.“
id8Labs, with currently more than 100 employees on board, plans to double its workforce to 200 professionals in FY09.
Amit Tripathi, founder of NetWeb Solutions, had earlier acquired the 51% stake of Percept Holdings in WebPercept on Mar. 29, 2007 and re-christened it id8Labs.
Later in October 2007, id8Labs also acquired the business franchise of eDesign Tree in India and launched id8Labs Global in association with eDesign Tree in the USA.
Source: My Iris