[MTC Global] Re: Reliance Jio: boosting digital revolution

Dear All,
Reliance has been actively investing in startups through its venture capital arm Reliance GenNext Ventures.

• The company planned to back five or six of the second batch of 11 companies that graduated out of its four month-accelerator programme and that it was actively looking for early-stage ventures outside its own mentorship programme.
• It has invested in four companies so far, including enterprise software firm Covacsis and surveillance solutions company Videonetics.
• It has agreed to invest $16 million (Rs 108 crore) in NetraDyne Inc, a US tech startup that is creating a platform based on the Internet of Things to process visual inputs.
• NetraDyne, which is yet to start commercial operations, is developing deep learning solutions and vision-based analytics targeted at industries such as fleet management, automotive, security and surveillance, Reliance said in a stock-exchange filing.
• Reliance said it invested half the amount in NetraDyne on 31 May 2016 and will put in the remaining by 31 March 2017. The investment will give RIL a 40% stake in NetraDyne on the basis of current fully diluted share capital.
• The San Diego, California-headquartered NetraDyne was founded in September 2015 by Avneesh Agrawal and David Julian. Agrawal, a Stanford University graduate, was senior vice president of technology and business at Qualcomm for over 10 years. He was also president of Qualcomm India & South Asia, responsible for the company's business, sales and marketing operations in the region.
• Julian co-founded Mountain View Analytics, a financial investment startup, and later worked as principal engineer in Qualcomm Research for 12 years before launching NetraDyne. Julian has also worked at US space agency NASA's Jet Propulsion Laboratory in the past.

Vivek Rai Gupta, managing partner at Reliance GenNext Ventures, said the company planned to back five or six of the second batch of 11 companies that graduated out of its four month-accelerator programme and that it was actively looking for early-stage ventures outside its own mentorship programme.

Cheers,

G.S.Autee

On Fri, Sep 2, 2016 at 12:57 PM, Govind Autee <g.s.autee@gmail.com> wrote:

Dear All,
Mukesh Ambani led-Reliance Industries Ltd (RIL) on Thursday announced the launch of telecom service Reliance Jio starting 5 September.

• In what may augur well for the government's Start Up India campaign, RIL on Thursday said that the company has set aside Rs.5,000 crore of venture capital to help young entrepreneurs build their businesses.

Cheers,

G.S.Autee

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