IDG Ventures and Axilor Ventures partner to fund frontier tech startups

L to R: Kris Gopalakrishnan, Chairman, Axilor Ventures and Sudhir Sethi, Chairman, IDG Ventures IndiaIndia-focused technology venture capital fund IDG Ventures India and Bangalore-based startup accelerator Axilor Ventures have come together to launch a programme to discover and fund early-stage startups in frontier tech sectors, the company said in a statement. Christened the Frontier Tech Innovators Programme, it will fund startups looking to raise seed or pre-Series A round […]

Read more

VR startup Imaginate raises $500K from SRI Capital

Hemanth Satyanarayana, CEO of ImaginateImaginate Technologies, Inc, an augmented reality (AR) and virtual reality (VR) startup, has raised Rs 3.35 crore ($500,000) in seed investment from venture fund SRI Capital, a top company executive told Techcircle. “The funds will be used to scale up operations in the US and run pilots with large-scale organisations,” Imaginate’s managing director Hemanth Satyanarayana […]

Read more

Xiaomi’s Barra joins Facebook to head virtual reality

hugo-fe_tcHugo Barra, who recently quit smartphone maker Xiaomi Inc. as its global vice president, has joined social networking giant Facebook Inc. as its head of virtual reality. Facebook CEO Mark Zuckerberg said in a post that virtual and augmented reality will be the next major computing platform. “Hugo is going to help build that future,” […]

Read more

More than a quarter of users abandon wearable devices, says Gartner

For-Smartwatch-Story_smartwatch-828786_1920Smartwatches and fitness trackers stand the risk of being abandoned rather fast. A latest survey by research firm Gartner Inc. has found that the abandonment rate of smartwatches is 29%, and that for fitness trackers is 30%, because people do not find them useful, get bored of them or they break. “Dropout from device usage […]

Read more

Redcliffe Capital’s Dheeraj Jain backs San Francisco VR startup Xanadu Heights

Dheeraj-JainVirtual reality game studio Xanadu Heights Inc. has secured seed investment from Dheeraj Jain, managing partner at London-based investment firm Redcliffe Capital. The round was closed in October and the company will use the funds for production and to launch the game this winter, the company said in a statement. Designed specifically for virtual reality, […]

Read more