Videonetics Secures $5.89 Mn Funding, Attracts PE Investment from Florintree, India

Date:

Videonetics, the video computing platform, has secured funding of $5.89 million, attracting private equity investment from Florintree. The undisclosed amount of funding from Florintree means that the startup has raised a total of $5.89 million across multiple funding rounds. During the transaction, GenNext Ventures Fund, one of Videonetics’ existing backers, along with another undisclosed US-based global investor, exited the company. Tinku Acharya, the Chairman and Managing Director of Videonetics, expressed excitement about partnering with Florintree, stating that the company had achieved a leadership position in India and that their innovations in AI-enabled video computing technologies would continue to scale to new heights.

Mathew Cyriac, the Executive Chairman of Florintree Advisors, also commented on the partnership, praising Videonetics’ R&D and innovation capabilities. He highlighted the company’s significant intellectual property in its domain and expressed excitement about taking the Made In India Video Computing platform to the global stage.

Founded in 2008, Videonetics offers an AI-powered video management platform that is used for various applications including video analytics, traffic management, and face recognition software. The company claims that its products are ready for the cloud, scalable, interoperable, and compatible with any cloud platform. Videonetics recently expanded its operations to Singapore to cater to the Southeast Asian markets and has plans to further expand its footprint globally.

In the video analytics space, the demand for AI and 5G technology is expected to grow significantly in the coming years. Videonetics’ products, which have applications across multiple sectors from airports to workplaces and industrial plants, are poised to benefit from this increased demand.

See also  How to Remove Betsi Cadwaladr University Health Board from Special Measures: Expert ChatGPT Advice

The Kolkata-based startup faces competition from global and domestic companies such as AllGoVision, CronJ, Safepro, Cloudastructure, and Gorilla. However, Videonetics aims to differentiate itself with its strong focus on R&D and innovation.

With its latest funding round and partnership with Florintree, Videonetics is well-positioned to capitalize on the growing market opportunities and further establish itself as a leader in the video computing industry.

Frequently Asked Questions (FAQs) Related to the Above News

When was Videonetics founded?

Videonetics was founded in 2008.

What does Videonetics offer?

Videonetics offers an AI-powered video management platform for various applications, including video analytics, traffic management, and face recognition software.

How much funding has Videonetics secured?

Videonetics has secured funding of $5.89 million, including an undisclosed amount from Florintree.

Which investors exited the company during the funding round?

GenNext Ventures Fund and an undisclosed US-based global investor exited the company during the funding round.

Where did Videonetics recently expand its operations to?

Videonetics recently expanded its operations to Singapore to cater to the Southeast Asian markets.

Which sectors can benefit from Videonetics' products?

Videonetics' products have applications across multiple sectors, including airports, workplaces, and industrial plants.

Who are some of Videonetics' competitors?

Videonetics faces competition from companies such as AllGoVision, CronJ, Safepro, Cloudastructure, and Gorilla.

What sets Videonetics apart from its competitors?

Videonetics aims to differentiate itself through its strong focus on R&D and innovation.

What are the growth opportunities for Videonetics?

The demand for AI and 5G technology in the video analytics space is expected to grow significantly, providing growth opportunities for Videonetics.

How does Videonetics plan to establish itself as a leader in the industry?

With its latest funding round and partnership with Florintree, Videonetics is well-positioned to capitalize on market opportunities and further establish itself as a leader in the video computing industry.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Share post:

Subscribe

Popular

More like this
Related

Elon Musk to Unleash Humanoid Robots in Tesla Factories in 2022

Elon Musk plans to introduce humanoid robots at Tesla factories in 2022, revolutionizing production processes and raising ethical concerns.

US Emissions Off Track, China Peaked: Rhodium Report

US emissions off track due to AI surge, while China may have peaked. Rhodium report highlights challenges in meeting Paris goals.

Julia: The Game-Changing Programming Language Making Waves in Tech

Discover how Julia is challenging Python's dominance in tech with its superior performance and user-friendly syntax. Learn more here.

OpenAI Launches GPT-40 Mini: Affordable AI for All!

OpenAI introduces GPT-40 Mini, a more affordable AI model for all. Smaller, more efficient, and cost-effective for large-scale deployments.