NetXcell Limited, a Hyderabad-based telecom value-added solutions provider, has raised $1 million from U.S. VC Ike Lee and Ruderman Capital and is in negotiations to raise an additional $2 million more from others, including a Mumbai-based VC firm, to fund its US expansion plans, reports the Business Standard.

The company hopes to more than double its revenues to Rs 7 crore during the current year from Rs 3 crore last year via the value-added services being offered to the mobile end users through telecom operators like Airtel in India.