According to a company statement, Florintree, a growth-stage private equity firm, has purchased a significant stake in Videonetics, a Kolkata-based video computing platform company.
Through this transaction, financial investors GenNext Ventures Fund and a US-based global investor exited.
Florintree has reportedly invested approximately Rs115 crore in Videonetics.
"Videonetics is poised to become a dominant global player and add significant value to the market." Furthermore, our advancements in AI-enabled video computing technologies will continue, and I am confident that they will reach new heights," said Tinku Acharya, Chairman and Managing Director of Videonetics.
"Videonetics is one of the few Indian companies with a core DNA of R&D and innovation, having created significant IP in its domain," said Florintree Advisors' Executive Chairman, Mathew Cyriac.
According to the statement, Videonetics' unified video management platform is a one-stop integrated video management solution that is also modular, encompassing cutting-edge applications such as Intelligent Video Management Software (IVMS), Video Analytics, Traffic Management (ITMS), and Face Recognition Software (FRS).
Florintree Advisors, led by Mathew Cyriac, a former Blackstone India head, has completed investments in both the private and public markets and has listed three of its portfolio companies via IPO (MTAR Technologies, Data Patterns, and Ideaforge Technology).