Hyderabad: SRI Capital, an early stage venture capital firm, said it has made a strategic investment of an undisclosed amount into a camera technology startup, DreamVu. The startup is a spinoff from the International Institute of Information Technology (IIIT), Hyderabad, making it the second company that SRI Capital has backed from the institute.
Headquartered in the US and based in Hyderabad, DreamVu is the brainchild of Rajat Aggarwal and Rohan Bhatial, and it is driven by a team of computer vision, software, hardware engineers and scientists. The startup has developed a power and cost-efficient omnidirectional camera platform inspired by human binocular vision and perception. It helps in providing augmented navigation capabilities and a full scene-understanding of unconfined and dynamic environments to autonomous robots.
Jay Krishnan, partner at SRI Capital, said, “SRI Capital is committed to backing startups with IP in areas that form the frontiers of new technologies. We were thrilled to see DreamVu’s solution with an optics- first approach that allows sensors and optics to disrupt value chains long powered by electronics and software. DreamVu is well positioned to transform the autonomous guided space with its product- portfolio and stellar backing through its advisers, investors and the operating team.“
“We are privileged to have partnered with a startup born here in Hyderabad and formed by young and ingenious entrepreneurs. We are positive that the value we provide in addition to this investment will significantly accelerate DreamVu’s growth curve in new markets,” added Jay.
With this investment, DreamVu is one step closer to its mission of building next-generation sensors to enable autonomous systems such as drones, robots and vehicles of the future. Unlike other cameras in the market, DreamVu’s products do not require stitching. They capture the data with minimal processing and power requirements.
“We are excited to take the next steps in fulfilling our vision of enabling futuristic capturing technologies. Our innovation in optics introduces the much-needed breakthrough to enable autonomous machines to become scalable and live up to the market demand,” commented Rajat Aggarwal, CEO and co-founder at DreamVu.
“We will use the funds to innovate further and also take our products to the early adopters as development kits. We are selling to and partnering with system integrators globally to disrupt the autonomous guided robotics landscape” said Rohan Bhatial, COO and co-founder at DreamVu.
In the last five years, SRI Capital has invested in 36 startups, and it will continue to scout for innovative startups to fund, collaborate and support cross-border innovation between India and the U.S.