KATHMANDU, Feb 16: Genese Solution Pvt Ltd, UK headquartered multinational IT company with a Nepal-based delivery center, and Nepal’s pioneer Cloud Consultancy, have secured an investment total of USD 1 million from Business Oxygen Private Limited with an added second round for its operations in the country.
Business Oxygen had completed a first-round investment initially to Genese Solution in June 2021. With promising returns and prospects, it has added a further investment totaling the Bo2’s investment to USD 1 million to accelerate the growth of Genese Solution in becoming an emerging enabler of Digital Transformation across the globe.
Business Oxygen Private Limited (BO2) is Nepal’s first private equity fund and is a part of the IFC’s Global SME Ventures initiative with investments from the IFC of the World Bank Group, Climate Investment Funds (PPCR), and FCDO. The fund is managed by WLC Ventures Pvt. Ltd, a subsidiary of White Lotus Centre Pvt. Ltd.
The IT company has supported more than 1000 businesses with its digital transformation services in Nepal & across the globe. It operates out of 8 country offices globally and along with cloud services, Genese also provides high-level development, data & security audit, and digital marketing support services to its clients.
“Genese is aiming to take Nepal towards the image of a strong tech resource hub & we are delighted to lead this with our support of Genese.” said Siddhant Raj Pandey, Chairman & CEO of Business Oxygen Pvt. Ltd.
Source : myRepublica