VR/AR start-up raises $2 million in seed funding

Sangeetha Chengappa Bengaluru | Updated on January 08, 2018 Published on October 09, 2017

GridRaster to bring high-end virtual/augmented reality experience on mobile devices

California-based tech start-up GridRaster, which works on enabling high-end virtual and augmented reality experiences on mobile devices, has received nearly $2 million in seed funding from top-tier venture capitalists in India and the US.

The one-year-old firm was founded by Rishi Ranjan, Dijam Panigrahi and Venkata Ramana Dass, who bring a combined experience of 40-plus years. The start-up’s product development team is based in Bengaluru.

The seed funding saw participation from Exfinity Ventures, Lumia Capital, Pipeline Capital, NexStar Partners, Unshackled Ventures, The Explorer Group and some strategic angel investors.

“We are excited about the VR software market opportunity, which is pegged around $35 billion by 2025, but is today limited by mobile compute power, high latency and battery life,” Shailesh Ghorpade, Managing Partner and CIO, Exfinity Ventures told BusinessLine. “The GridRaster team is trying to solve these limitations by intelligently harnessing the compute power on the edge and centralised cloud to power compelling experiences.” He said the $2-billion India opportunity for VR software is still in its nascent stages.

GridRaster is currently working with a select group of customers — Osterhout Design Group (ODG), Steel Wool Studios, telcos and others in the industrial, aerospace, automotive and retail sectors. For instance, they have partnered with ODG to bring their technology application for ODG smart glasses for enterprise customers who want to create and collaborate in mixed reality or build immersive 3D interactive experiences. The team has 11 international patents to their credit.

According to co-founder Ranjan: “With new capital, we will work towards maturing the product for specific enterprise and customer use cases, as a standard platform of choice for cloud-powered high-end VR/AR. We are currently looking out for talented graphics engineers, Unity developers and QA engineers to join us in our California and Bengaluru offices.”

Published on October 09, 2017

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.