Mumbai, Oct 10 (PTI) California-based virtual realitystartup GridRaster today announced nearly USD 2 million inseed funding from top tier VCs in US and India to strengthenproduct development and enhance customer reach.
GridRaster's seed round of funding saw participationfrom top VC firms, including Exfinity Ventures, Lumia Capital,Pipeline Capital, NexStar Partners, Unshackled Ventures andExplorer Group, as well as strategic angel investors.
GridRaster is currently working with a select group ofcustomers including Osterhout Design Group (ODG), Steel WoolStudios, multiple telcos and others in the industrial,aerospace, automotive and retail industries, it said in astatement here.
"We are excited about the VR software marketopportunity, which is pegged around USD 35 billion by 2025 butis today limited by device limitations around compute andbattery," Shailesh Ghorpade, managing partner and CIO ofExfinity Ventures said.
"The GridRaster team is trying to solve this devicelimitation by intelligently harnessing the compute power onthe edge and centralised cloud to power compellingexperiences, a challenging proposition which truly excitesus", he added.
GridRaster is founded by Rishi Ranjan, Dijam Panigrahiand Venkata Ramana Dass, alumni from Georgia Tech, IITKharagpur and VJTI, Mumbai, who bring a combined experience of40 plus years of experience.
The team has 11 international patents to their credit,it said. PTI DSKNRB.
This is unedited, unformatted feed from the Press Trust of India wire.