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Imaginate, a virtual reality start-up based in India and the US, has raised $500,000 from seed-stage venture fund SRI Capital. Post the investment, Sashi Reddi, Managing Partner, SRI Capital, has joined the start-up’s board. Imaginate’s early seed investor IIIT-Hyderabad has exited with this funding round.
Imaginate has developed NuSpace, a collaboration platform that lets people communicate with one another in an immersive and interactive virtual world for industrial training, engineering design and remote maintenance. “It will change the way people collaborate and learn by leveraging the best of a physical classroom-like environment and the ease of a digital conferencing platform such as WebEx or Skype,” Reddi said.
“With just a 2 mbps connection, people can communicate with one another across geographies through their realistic avatars,” said Hemanth Satyanarayana, Managing Director, Imaginate.
Imaginate was part of Nasscom’s 10,000 Start-ups warehouse programme in 2016.
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