Onward Technologies gets board approval for creating Dutch subsidiary

Onward Technologies, an Indian digital and engineering services company, said that its board of directors has sanctioned the creation of a fully-owned subsidiary in the Netherlands, called Onward Technologies B.V.

The Dutch subsidiary will help the company growing its presence to execute engineering designing and IT services in the region. It has been issued capital of €200,000.

Onward Technologies B.V. will be engaged in services and consultancy in the area of engineering research and development (ER&D), digital transformations, and information technology services.

Onward Technologies gets board approval for creating Dutch subsidiary. Photo courtesy of Marjon Besteman from Pixabay.

Last month, Onward Technologies said that its board had approved raising of funds of INR 70.2 crores from funds advised by Convergent Finance, which will the give the latter a stake of around 24.78% in the company.