Indian Angel Network invests $1 mn in Vayavya Labs
July 18th, 2011 - 7:08 pm ICT by IANSBangalore, July 18 (IANS) Venture capitalists’ group Indian Angel Network (IAN) Monday said that it had invested $1 million (Rs.4.4 crore) in software developing firm Vayavya Labs.
“Vayavya tools play a pivotal role in adding value by cutting down development, testing and debugging time at the customer end,” IAN member Sharad Sharma said.
According to the network, the investment will help Vayavya expand its offerings for electronic systems level design, and strengthen its sales and marketing efforts.
“IAN is happy to play a role in this critical skill-starved area of the software industry,” said Vivek Raghavan, another IAN member who, along with Sharma, will mentor Vayavya.
The network further said that it now has 25 projects under it, including this investment.
Vayavya’s services are focused on providing integration services, design services and solutions around digital TV, IPTV and set top box domains.
“Vayavya Labs aims to build a valuable Indian company in the system design tools and services and leverage the electronic design automation (EDA) space in the US,” the company’s chief executive R.K. Patil said.
Currently, Vayavya has about 20 engineers supporting this area. Vayavya Labs’ software facilities in Belgaum and Bangalore employ around 70 engineers.
- Karnataka unveils new policies to boost ICT, hardware - Jun 20, 2011
- JNTU, Synopsis to launch new software design programme - Jan 29, 2011
- Phillips to innovate healthcare, electronic products for India - May 19, 2010
- BEL to flag surveillance products at defence expo - Mar 28, 2012
- Eight IIM-B graduates awarded gold medals - Mar 30, 2012
- Intel Capital invests $200 million in six Indian firms - Sep 30, 2011
- TCS unveils cloud-computing solution in Karnataka - Mar 12, 2011
- IT product firm Ittiam posts $20 million revenue - Mar 21, 2012
- Thales announces deliveries in software-defined radio networking - Mar 30, 2012
- Virtualisation poses challenges to disaster recovery plans: study - Dec 25, 2010
- 20 Indian geeks to flag innovations at EmTech - Mar 26, 2012
- 6 MIT scientists to address EmTech India in Bangalore - Mar 23, 2012
- UAE launches phase-II of health information system - Apr 02, 2011
- EMC Data solution to automate government work - May 03, 2012
- Thinksoft bags Rs.5-crore RBI order for testing solution - Dec 23, 2011
Tags: angel network, belgaum, critical skill, crore, digital tv, eda space, electronic design automation, electronic systems, indian angel, integration services, iptv, leverage, marketing efforts, mentor, pivotal role, sales and marketing, software facilities, software industry, system design tools, venture capitalists