For an undisclosed sum, private equity (PE) company Florintree acquired an important share in the video computing platform Videonetics.
Read also – [Funding alert] SALT Secures Pre-seed Funding Round led by Dr. Viraj Doshi
“I am very excited to partner with Florintree. Videonetics had achieved a great milestone by taking a leadership position in India. Moreover, our innovations in AI-enabled video computing technologies will continue, and I am confident that they will scale to newer heights,” Videonetics chairman and managing director Tinku Acharya said.
Read also – Kae Capital Secures Its Winners Fund II At $50 Mn To Invest In Portfolio Startups
Commenting on the announcement, Florintree Advisors’ executive chairman Mathew Cyriac said, “Videonetics is among the few Indian companies with a core DNA of R&D and innovation, having created significant IP in its domain. We are very excited to partner with Videonetics and Dr Acharya, as they take the “Made In India” Video Computing platform to the global stage.”
Acharya founded Videonetics in 2008, which provides an artificial intelligence (AI)-driven video management platform with applications in face recognition software, traffic control, and video analytics. The startup asserts that its products are scalable, interoperable, cloud-ready, and cloud-agnostic.
Read also – [Funding alert] Agritech Startup Leads Connect Secures $62.5 Mn From BL Agro
According to the firm, it recently increased its international operations to Singapore in order to serve the broader Southeast Asian markets.
About Videonetics
The Unified Video Management Platform from Videonetics is a one-stop integrated video management solution that is also modular in nature and includes cutting-edge applications like Intelligent Video Management Software, Video Analytics, Traffic Management, and Face Recognition Software.
Read also – [Funding alert] Neso Brands Invests $4Mn in Le Petit Lunetier
