SRI Capital invests US$1 million in FakeSpot
Early stage capital for global innovation
Focused on tech startups in the US and in India
NEWSLETTER - December, 2018

SRI Capital announced its investment in DreamVu

DreamVu has developed a cost-efficient omnidirectional camera platform that provides automated navigation capabilities to autonomous robots. It can capture 360 degree 3D videos in real time. DreamVu's solution with an optics-first approach allows sensors and optics to disrupt value chains long powered by electronics and software. Their innovation in optics introduces much-needed breakthrough to enable autonomous machines to become scalable and live up to the market demand.


Alok Bardiya has joined SRI Capital as Venture Partner

We would like to welcome Alok Bardiya to SRI Capital as Venture Partner. Alok has over 20 years’ experience investing, operating and consulting with technology companies. He is currently setting up India’s largest IOT play for TATA Communications. Previously, he was Country Head for India for CIsco Investments & Corporate Development where he served on boards of Mobikwik, WSO2, Videonetics, Covacsis, GTT, Cloudcherry and Ineda Systems. Alok also had stints with TATA Communications as VP & Global Head, Managed Services and Marketing; AT&T as Director and Bain & Co. as Consultant. Alok is an alum of IIT Delhi and Wharton Business School.


Sports Flashes acquires global audio rights for ICC World Cup 2019

After the success of its audio broadcasts for India-West Indies series, Sports Flashes has acquired global audio rights for ICC World Cup 2019. With this move, the company intends to reach a global audience of 1 billion Cricket Fans with a live feed of the 48 matches from England. Sports Flashes recently announced partnerships with Twitter and Amazon (for its Alexa platform) to distribute live sports feeds.


HealthifyMe tops up Series B funding round

Health and fitness app HealthifyMe raised $ 6 mn in an extended Series B from existing investors. The company had last raised $ 12 mn from Sistema Asia Fund, Samsung Next, Atlas Asset Management and Dream Incubate, along with participation of existing backers IDG, Inventus, Blume and NB Ventures. The company has built a library of 900 Southeast Asian local foods with accurate nutritional mapping. It uses this library to help its users track calorie intake and provides nutrition and dietary service and fitness coaching.


Phenom People Ranked Number 128 Fastest Growing Company in North America on Deloitte’s 2018 Technology Fast 500™

Phenom People announced that it was ranked 128th on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Phenom People grew its revenue by 899% during the evaluation period. Phenom People, a global leader in Talent Relationship Marketing (TRM), attributed the hypergrowth to adoption of TRM by Fortune 500 companies


The content catchup game in Indian sports- In this post, Shweta talks about the how the current sports content landscape is dominated by cricket and hasn’t kept pace with the increased interest in other mainstream as well as niche sports by Indian sports fans. This gap in the market presents a unique opportunity for our portfolio company Sports Flashes.


Indian tech ecosystem is approaching escape velocity- A report published by NASSCOM highlighted several metrics showcasing the strength of Indian tech ecosystem. India added 8 new unicorns this year, and now has the 3rd largest number of unicorns after US and China. More importantly, the time to attain billion dollar valuation is now 5-7 years, the 2nd fastest after China (4-6 years).


Digital gaming industry in India is coming of age-India is now one of the top 5 countries for mobile gaming in the world and is estimated to be more than $ 890 mn. The rise of digital gaming popularity in India is owing to the widespread use of smartphones and falling data prices. The target audience has grown from 20-30 mn in 2010 to ~ 250 mn currently and we already have companies like Nazara who are ready to go public.


India’s legalisation of drones from Dec 1 to bring innovation and investment in the space - Unmanned Aerial Vehicles (UAV), commonly known as Drones, are all set to be legal to fly in India starting December 1. This move is expected to encourage development of technology and will bring in much needed investment into the space that had been lacking in past years because of the ban.

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