Genese Solution Pvt Ltd, UK headquartered multi-national IT company with a Nepal-based delivery center & Nepal’s pioneer Cloud Consultancy, has secured an investment total of USD 1 million from Business Oxygen Pvt. Ltd. with an added 2nd round for its Nepal operations.
Business Oxygen had completed a first-round investment initially to Genese Solution in June 2021. With promising returns & 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.
“We are delighted to receive a second-round investment from Business Oxygen, it shows we are on the right growth path. This funding will support our plans further in creating an even stronger & competent team. Our primary focus is capacity enhancement to develop a strong tech resource base in Nepal & expanding verticals in being a complete digital transformation partner.” says Mr. Anjani Phuyal, Global CTO & Founder of Genese.
Genese intends to focus on developing its services to international standards with funding from BO2. Genese also aims to utilize the funds to upgrade skill levels, accelerate automation and lead the journey of shifting Nepal as a strong base for international level human resources in the global IT sector.
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 & along with cloud services, Genese also provides high-level development, data & security audit, and digital marketing support services to its clients.
“The IT industry is a high growth industry whose vital importance has been seen in the recent years along with the pandemic. All businesses & organizations will need to leverage the power of digital technologies to march into the future & our new investment in Genese reflects our belief in this domain & especially the team. 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.