The News Scroll 06 November 2017  Last Updated at 5:30 pm | Source: PTI

Otivr eyes facilitating $150 mn IT deals by 2019

Otivr eyes facilitating $150 mn IT deals by 2019

New Delhi, Nov 6 Swedish start-up Otivr expects to facilitate IT deals worth USD 150 million between India and Nordic companies by 2019.

Otivr has developed an online platform to connect firms in Sweden, Denmark, Norway, Finland and Iceland with Indian IT companies.

"Total Nordic IT spend on IT services and business process management (BPM) is USD 25 billion, of which Otivr would like to gain 1 per cent transactions share.

"Our aim is to clock USD 20 million gross merchandise value (GMV) for next year and USD 150 million by 2019," Otivr CEO Ricky Dhillon told .

He said Otivr can help mid-sized Indian IT firms which do not have the resources to market their products overseas.

"India is recognised globally for its strength in software. There are big Indian IT companies that reach out to firms globally but there are many small and mid-sized (firms) who are doing good but don't have resources to market their products overseas.

"We are, therefore, verifying India's IT firms and connecting them with companies in Nordic region," Dhillon said.

According to a Nasscom report, there are 250 companies in the billion dollar club from these countries. The region also has a strong SME sector, with 3,000 companies having revenues of more than USD 100 million.

There is a high proportion of government expenditure as part of the economy in the Nordic region and the public sector also is a significant contributor to the IT spend, as per the report.

Otivr claims to have about 100 Indian IT entities and over 10,000 professionals on its platform.

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds.
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