Hidden Reflex begins search for a equity partner

Hidden Reflex begins search for a equity partnerBangalore-based Internet software company, Hidden Reflex has started its search for a private equity partner under its plan to raise between $1-$2.5 million for funding its expansion.

The company is thinking about raising the fund through equity dilution starting next week, according to chief executive officer Alok Bhardwaj. He expressed that the company will be looking for a partner with expertise in Internet start-up space.

“We received funding proposals from a few PEs earlier, but were concentrating more on the development and launch of Epic, which essentially runs on the open source Mozilla engine. We hope to close Series A funding by the end of August, or more realistically, by September,” Bhardwaj said

Hidden Reflex was in news recently when it launched the country’s first free browser called Epic in the second week of July. The browser which is customized for India has seen a successful response from the internet users. The browser offers free built-in anti-virus protection, language Unicode, free word processor and video sidebar.

Epic which is based on the open-ended Mozilla platform also offers Facebook, Twitter, Orkut, stock and trading portfolios, book travel tickets, live TV and video streaming through its over 1,500 applications and widgets. Users also have the choice of 12 languages like, Hindi, Bangla, Punjabi, Marathi, Gujarati, Sanskrit, Nepali.

The browser can also import plugins from Mozilla and it also offers local and national news from popular publications and television channels. The browser has seen more than 200,000 unique downloads since July 15, according to the company.

Hidden Reflex is already working on the mobile version of the browser.