31st March, 2015, New Delhi: Exfinity Technology Fund I (XTF I) announced its fourth investment in LensBricks Inc., a software defined hardware start up.
Commenting on the investment, Balakrishnan V, Chairman, Exfinity Ventures, stated “The goal of Exfinity Fund is to back strong promoters having ideas in deep technology space. We have always been quick to identify and collaborate with promoters to further ideas underpinning the latest technology. The recent investment in seed funding LensBricks, follows the same pattern.”
LensBricks team is led by founders Raji Kannan, former head of Nokia’s imaging team, Pranav Mishra, with past experience in Nokia, AMD and Analog Devices, and Ramesh Raskar, head of MIT Media Lab’s Camera Culture group.
“We are thrilled to partner with Exfinity Ventures. Together with North Bridge Venture Partners and Lux Capital, they have participated in seed round for 2 million USD. We are fortunate to leverage their deep understanding of global markets, technology trends and wide networks. It’s great to see India based VC firms like Exfinity forthcoming to invest in consumer hardware product start-ups and technology companies. This is exactly the kind of ecosystem we need to create to nurture innovation and entrepreneurship,” said Raji Kannan, founder of LensBricks.
“Driven by the passion of creating a new type of smart camera, the team is working towards creating a novel product solution that provides unique insights to customers. The team’s decades of collective experience in imaging leaves no one in doubt that they are well on the way towards making a far-reaching impact in the smart home segment”, said Shailesh Ghorpade, Managing Partner, Exfinity Ventures.