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SRI Capital backs camera technology startup DreamVu

By Payal Ganguly

  • 29 Nov 2018
SRI Capital backs camera technology startup DreamVu
Credit: Thinkstock

Early-stage venture capital firm SRI Capital has invested an undisclosed amount in camera technology startup DreamVu.

US-headquartered DreamVu, which works of out Hyderabad, said in a statement that it will use the money to fine-tune its product and take it to the market.

DreamVu was founded last year by International Institute of Information Technology-Hyderabad students Rajat Aggarwal and Rohan Bhatial. It had raised seed funding of Rs 10 lakh as part of the institute’s accelerator programme.

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The firm claims to have developed a cost-efficient omnidirectional camera platform that helps provide augmented navigation capabilities to autonomous robots. Simply put, it can capture 360-degree 3D videos in real-time.

“Our innovation in optics introduces the much-needed breakthrough to enable autonomous machines to become scalable and live up to the market demand,” said DreamVu chief executive officer Aggarwal.

“DreamVu's solution with an optics-first approach allows sensors and optics to disrupt value chains long powered by electronics and software,” said Jay Krishnan, partner at SRI Capital.

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Krishnan recently moved to SRI Capital after quitting as CEO of T-Hub, the public-private incubator backed by the Telangana government.

SRI CapitaI, which has offices in Philadelphia and Hyderabad, has thus far backed more than three dozen companies. It mostly invests between $500,000 and $3 million in companies working in optics, hardware, sensors and other technology. The firm also makes selective Series A investments.

In July, SRI Capital marked the first close of its debut venture capital fund at $40 million (Rs 274 crore) to invest in early-stage technology startups in India and the US.

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Its bets in India include LetsMD, a fintech startup catering to the healthcare space; Sports Flashes, which operates a sports content app; and IndianMoney, a financial education company.

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