Indian Angel Network invests $1 mn in Vayavya Labs

July 18th, 2011 - 7:08 pm ICT by IANS  

Bangalore, 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.

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