Delhi-headquartered video game startup Simulanis has raised $500,000 during a pre-Series A spherical from Education Catalyst Fund, Associate in Nursing early-stage education and skilling fund for low-income teams.
Founded in 2013, Simulanis at first offered skilling programmes for engineering students via computer-based modules. It went on to supply work atmosphere simulations to coach staff besides incorporating virtual and increased reality into its offerings in 2015.
“The company faces very little competition within the Indian market and also the product offered square measure innovative and distinctive,” Vishal Republic of India, director, company business advisors at Education Catalyst, told VCCircle.
In October, VCCircle had rumored that international philanthropic organization archangel and Susan dingle Foundation (MSDF) had marked the primary shut of the Education Catalyst Fund when raising nearly common fraction of the target corpus.
Geeta Goel, vp of mission investment at MSDF, had aforesaid the ultimate shut is anticipated towards the tip of 2018. The class II various investment fund, floated last Gregorian calendar month, features a target corpus of $20 million.
Apart from MSDF, the opposite restricted partners within the fund embody US-based impact investment foundation grey Matters Capital and some personal Indian investors.
Simulanis CEO Raman Talwar had earlier aforesaid that he was looking to lift $1-1.5 million during a Series A spherical by the tip of this year to expand the company’s giving to a platform level, with the exception of enhancing its product.
Last April, the corporate had raised Associate in Nursing covert quantity in pre-Series.
A funding from early-stage non-depository financial institution Village Capital and a association of investors together with Asian nation Skills chairman Pawanjit Ahluwalia; Apurva Chamaria, VP and head – company promoting, HCL Technologies; and Mridul Upreti, chief officer of segregated Funds cluster at Jones Lang LaSalle.
The funding spherical inspired Talwar to stay to his arrange of incorporating AR and VR in education.
The company offers industrial coaching to staff operating in automobile, oil and gas, railways, FMCG and prescription drugs. it's already started operations within the uk via a subsidiary. The startup announce revenues of Rs 62 large integer within the year 2016-17.
New frontier
The AR and VR area in Asian nation has been gaining traction recently.
Last week, Kalpnik Technologies, that runs a virtual reality-driven religious startup, had raised $500,000 during a seed round from a bunch of angels at funding and incubation platform Venture Catalysts.
In might last year, Chymera VR Iraqi National Congress, a video game advertising platform, had secured funding from a clutch of angel investors, together with individuals cluster founder and chief government Anupam Mittal, Airbnb’s international enlargement head Varsha Rao, Google government Surojit Chatterjee, and HHC Holdings chairman Nirav Choksi.
The investment was created through LetsVenture, a web funding platform.
In March, video game startup Shilp MIS Technologies had raised Associate in Nursing covert quantity from digital business veteran and angel capitalist Puneet Gupta, Deloitte America partner Nimitt Desai and different high web value people.
In February, Imaginate Technologies Iraqi National Congress. had secured Rs 3.35 large integer in seed funding from venture fund SRI Capital.
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