Indian Angel Network invests in OMAK Technologies

Mumbai: Sri Lanka-based information technology company OMAK Technologies Pvt. Ltd announced on Monday that it has raised funding from Indian Angel Network (IAN) and Lankan Angel Network.

It did not disclose the amount raised.

The company plans to use the funds to grow its business across South Asia via strategic partnerships as well as add new features to its existing range of solutions.

"Considering the innovativeness and far-reaching implications of the technology solution and other products created by them, the company has the capacity to possibly revolutionize restaurant management and operations in Sri Lanka and, going forward, South Asia," Arj Wignaraja, investing member of the Lankan Angel Network, said in a statement.

OMAK Technologies develops and customizes software for all aspects of restaurant management and operations. The company was a runner-up at this year's Venture Engine, an entrepreneurial competition organized by the Lanka Angel Network along with Rajan Anandan, managing director of Google India-backed Blue Ocean Ventures and the Indian Angel Network. The competition resulted in 18 Venture Engine-linked angel investors committing to invest in OMAK Technologies and its innovative product portfolio.

This is the second investment by IAN outside India. Mint reported on 27 October that IAN invested an undisclosed amount in London-based Lowdownapp Ltd, the makers of the Lowdown mobile app, which provides data and information services.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.