AR & VR Startup Imaginate Raises Funding from SRI Capital
Hyderabad-based augmented and virtual reality (AR & VR) startup Imaginate raised $500,000 from Philadelphia-based seed stage venture fund SRI Capital. The company plans to use the money to provide collaboration tools in VR, AR and mixed reality (MR) in industrial training, design and maintenance in the United States and Indian markets.
With this funding round, Sashi Reddi, managing director of SRI Capital has joined the company’s board and its early seed investor IIIT Hyderabad has exited.
“Imaginate’s collaboration platform NuSpace is like Webex of VR and AR,” said Reddi about his first investment for 2017. “It will revolutionize the way people collaborate and learn by leveraging the best of both a physical classroom like environment and the ease of a digital conferencing platform like Webex or Skype.”
NuSpace is a hardware agnostic, collaboration platform that enables people to communicate