Co-founder and Chief Operating Officer of JustDial, V.Krishnan has invested an undisclosed amount in the IOT start-up .
Founded in December 2013 by US based technology entrepreneur Sanjay Sinha, XVidia was conceived in San Francisco, California. A Masters in Electrical Engineering and Computer Science from the University of Illinois (Chicago), Sanjay Sinha is known for his ahead-of-the- times understanding of the internet industry. Sanjay Sinha started his first Company in Silicon Valley and expanded its presence across US, Europe, Japan and India. The objective this time around is to build a cutting-edge, bespoke technology company, rooted in the Indian ecosystem
“We had anticipated that IOT will grow faster than predicted by a number of agencies; and we are happy to have read this space correctly,” said Sanjay Sinha, the Chief Executive Officer of XVidia, in a statement. “Over the last year-and-half of our existence, XVidia has focused unblinkingly on finding only IOT-based solutions. We’ve succeeded in cracking almost every possible internet challenge to deliver for our marquee clients. We are now ready to scale up.”By an estimate, XVidia already has close to a 100,000 devices – cameras, signage screens, household appliances etc. – on IOT. Considering XVidia has a seemingly super-ambitious target of controlling, streaming, and analyzing data from 1 billion devices by 2020, this is a small step. XVidia believes this is quite achievable, since initiatives like ‘Smart Cities’ and ‘Digital India’ heavily depend on IOT. Moreover, while XVidia controls devices across nearly 133 districts in 19 states of India; this is only for niche corporate giants from Telecom and Banking.
XVidia is planning to use the investment to build on Sales as well as well as catapult itself into the retail space with its first product, Xelvi – a body wearable camera which streams LIVE video anywhere anytime. The product is a takeaway from XVidia in-car video streaming solution, specially designed for in-cab security, which is a feature a number of Taxi companies are in the process of integrating, post regulations by the government.
“India and IOT are made for each other. Gartner had initially predicted 26 billion devices on IOT globally. This has been corrected significantly of late. XVidia has a solid foundation in terms of human capital, technology leap, and market understanding; much because of its clients. It has strong R&D credentials, and an impressive, time-bound line-up of product and services. All we need is to scale exponentially, and convert this huge opportunity.” Krishnan said.
V. Krishnan will be on the board of XVidia, and bring his immense experience of building JustDial – one of India’s most formidable nouveau business structures globally. According to sources, there are fixed objectives that XVidia has set for itself over a 5-6 months framework, after which it is likely to go for its first round of institutional investment to fuel its next level of expansion.