Nivio recently began beta registration for its completely functional Windows desktop from the cloud for users in the U.S. Videocon and AEC partners which is a US equity firm have now decided to invest in the start-up. Nivio which has been around for 7 years is a cloud computing company. It is worth $100 million. Nivio has its offices in New Delhi and Switzerland, and provides users with access to the hosted version of a personal Windows desktop from Internet connected devices. It also rents out original updated software along with free synchronized storage for the user.
Videocon invests in cloud computing
Venugopal Dhooot, the chairman of Videocon says that this space is something to look forward to with vast changes happening in the industry from computer electronics to cloud. Videocon and AEC Partners will invest $21 million in the firm, reports TheEconomicTimes. On the other hand, Nivio will utilize the money to expand its engineering centre in California and also bring in new talent. The firm was founded by Saurabh P Dhoot who is the nephew of Venugopal Dhoot and Sachin Dev Duggal. Both setup this start-up while they were studying engineering in Imperial College, London. “We are very proud that Nivio has successfully delivered seven-fold returns to some of the angel investors,” said Duggal. The partnership will enable Nivio to access more than 1,000 Videocon stores and thousands of resellers in India to provide bundled services.
While taking a sabbatical from Deutsche Bank a couple of years back, Duggal put forth seed money from his bosses which came up to $100000. Dhoot also said that he looks forward to future opportunities for globalization with investment in Nivio and presents Videocon the strategic benefit to existing products and services.
Apparently, this is a first of its kind investment for the Videocon Group in a start-up company. The start of the year Motorola showed its interest and invested in the Israeli start-up Shaker which is a popular social platform. It had won the startup contest at TechCrunch. It allows users to socialize in a casual way online by creating natural settings using the Facebook profile.
Publish date: February 10, 2012 5:38 pm| Modified date: December 18, 2013 9:34 pm