AHMEDABAD, INDIA: Gujarat Venture Finance Limited (GVFL), India's leading Venture Capital company has announced an investment of Rs. 40 million in Sahajanand Laser Technology Limited, one of the largest manufacturers of Laser Systems for diamond industry. GVFL will make the investment from its Rs. 296 million Gujarat IT Fund. Gandhinagar-based Sahajanand Laser Technology will be utilizing the funds for the expansion of its range of high- end laser machines.

"Picking up innovative technology companies early and nurturing them to leadership is GVFL's forte. With India emerging as "the global destination for diamond cutting and adding value to small and very small diamond "roughs", Sahajanand has the potential to become a definite winner with GVFL's effective nurturing and constant support," said. Vishnu Varshney, CEO of GVFL Ltd.

Sahajanand Laser is the 61st investment being made by GVFL in innovative technology companies across India.

"Sahajanand Laser is the first Indian Company to introduce a Fiber Laser Machine in India. We have ushered a revolution in the development of laser systems for diamond industry and feel that with GVFL's support we can kick-start our expansion growth exponentially," Arvind Patel, managing director of Sahajanand Laser added.