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Cityland to raise $6 mn for realty venture

The promoters of Cityland Technologies plan to raise $6 million (Rs 29 crore) to fund the expansion plans of the company’s business process outsourcing (BPO) arm Cityland BPO as well as foray into real estate consulting. The company plans to raise $5 million as seed capital for its real estate services venture Cityland, which will be started sometime this year, said Srinivasarao Kanneganti, chief executive officer, Cityland Technologies. Cityland is currently in talks with a few private equity players and angel investors to raise funding for the venture, though nothing has been finalised yet, Kanneganti said. “We are looking for angels, VCs and private equity players who can fund our plans and also join our board in an advisory capacity,” he said. [...]