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.
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.