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Indian Angel Network (IAN) has invested Rs 4.50 crore ($1 million) in Bangalore-based Vayavya Labs, an embedded software tool developer.
The investment will help Vayavya expand its toolset suite for electronic systems level design and strengthen its sales and marketing efforts, IAN said in a statement.
By using Vayavya tools, its customers can optimise time, efforts and costs involved in embedded software design and development. Its services business is focused on providing integration services, design services and solutions in the Digital TV, IPTV and set-top box domains.
Currently, Vayavya has about 20 engineers supporting this area. Vayavya Labs’ software facilities in Belgaum and Bangalore are staffed with about 70 professionals. It counts technology leaders like Trident, Synopsys, NDS and Electra among its customers.
“Vayavya tools play a pivotal role in adding value by cutting down development, testing and debugging time at the customer end, thereby meeting the goal for go-to-market,” IAN member, Mr Sharad Sharma, said.
With the Vayavya deal, IAN has invested in 25 firms. IAN is a national network of business angels investing in start-ups, early stage ventures and has an investor base of over 170 angels.
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