New Delhi / Mississauga, Ontario, 18
July 2014: DataWind
Inc. (“DataWind” or the “Company”) (TSX: DW), a leader in low-cost internet
connectivity for emerging markets, was honored with initiating the siren to open
trading at Toronto Stock Exchange (TSX) today.
The event celebrated the Company’s recent initial public offering, successfully
completed on July 8th; raising gross proceeds of CAN$30.0 millionto
expand the implementation of its patented and proprietary technology across
emerging markets.
Raja Singh Tuli, Co-Chairman and CTO,
Suneet Singh Tuli, President and CEO,
and other members of the DataWind management team joined Michael Kousaie, Head
of Business Development, Technology, Toronto Stock Exchange and TSX Venture
Exchange, to mark the occasion.
Suneet Singh Tuli, President and CEO,
DataWind said, “It
is an absolute delight for DataWind to be part of the market opening ceremony
today.” Commenting further on the recent financing, he stated, “Our IPO on the
TSX represents a major milestone for DataWindand gives us the resources to
implement the next stage of our vision to bring the internet to billions ofunconnected
people in the developing world.The internet impacts nearly every aspect of
modern society and serves as a powerful economic stimulator. Yet, only a small percentage of individuals
in developing countries have internet access.”
Raja
Singh Tuli, Co-Chairman and CTO, DataWind said, “The world suffers from an
internet infrastructure deficit, however, we believe our patented cloud based
web delivery technology can effectively leverage existingcellular telephony networks
to deliver affordable internet to 93% of the world population. Our technology holds the potential to help
bridge the digital divide – effectively and in the most affordable manner.”
Following the successful debut of
DataWind’s range of low cost tablet computers and internet solution by the Secretary
General of the United Nations, Mr Ban-Ki-Moon, the Canadian company is now on a
mission to empower the digitally disenfranchised to join the internet age.
DataWind has been recognized by the MIT
Technology Review in its 2014 list of the World’s 50 SmartestCompanies, as the
Company is acknowledged for its ability to break the affordability barrier with
tablet computers for the population at the base of the pyramid, while delivering
internet access on existing networks.
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