Early stage venture capital firm YourNest has appointed Satish Mugulavalli as director of technology, it said in a statement.
Mugulavalli – who earlier co-founded Revvx IoT Hardware Accelerator – will work closely with the fund to identify deep tech investments in areas such as IoT (Internet of Things), advanced robotics and enterprise software.
“Satish will drive innovation, growth and product life cycles for portfolio companies and also guide them on IP, patenting, system architecture and team building,” it said.
As co-founder and CEO of Revvx, Mugulavalli mentored over 15 startups across multiple accelerator tracks. He has held leadership roles in several startups such as Verismo Networks, Teneoris Networks and Ishoni, among others. He also holds patents in digital media and networking besides architecting high performance systems in voice, video and data networking products, internet platforms and services.
“We have a focus on deep-tech companies and Satish, as our director – technology, brings the scientific temperament of a technologist and the business acumen of an entrepreneur to further our philosophy of co-creation. His experience with the startup ecosystem will play a critical role in helping us choose the right companies,” said YourNest founder and CEO Sunil Goyal.
YourNest has deployed its first fund and made investments in sectors such as software as a service (SaaS), artificial intelligence (AI) and data analytics. The firms it has invested from the first fund include Arya.ai, Uniphore, Mycity4kids and GolfLan.
The VC fund recently launched YourNest India Fund II with a corpus of Rs 300 crore to offer pre-Series A funding to seven-eight ventures every year. Fund II will focus on sectors including IoT, electronic system design, AI, advanced robotics, enterprise software and mobile Internet.
There were 144 investors in the first fund while there are close to 60 investors in Fund II. The four full-time partners – Goyal, Sanjay Pande, Girish Shivani and Vivek Mansingh – have put in a total of Rs 5 crore in Fund II.