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Bangalore based RiverSilica Technologies, a video-streaming solution provider has raised INR 10 Cr. in funding led by Exfinity Technology Fund.
Founded in 2010 by Jagannathan Balaji, RiverSilica specializes in hardware and software solutions for IP Streaming Video delivery using Advanced Encoding and Transcoding Algorithms. It has developed a video streaming technology that can sense the bandwidth of the users’ devices and then accordingly compress the video content without impacting its quality.
Its main product line is PIXFIX, a patent-pending algorithm supports live video and on-demand video.
“While there has been an exponential growth in the consumption of video content in the country, the experience of consuming has not been that good because of bandwidth constraint. RiverSilica addresses the core issue of video steaming by dynamically sensing the bandwidth of the users’ devices and accordingly reduce the beat rate of the video to suit the bandwidth,” said Shailesh Ghorpade, managing partner, Exfinity.
In 2010, RiverSilica had raised INR 5 Cr. from Ojas Venture Partners. However, it did not participate in this round of funding.
Exfinity Fund, the technology focused fund is founded by IT Honchos including Former Infosys CFO TV Mohandas Pai, and Former Infosys CFO V Balakrishnan among others.
This is the second investment made by Exfinity, previously it had invested $ 4 Mn in Virtual Power Systems (VPS), US startup founded by Indian American Shankar Ramamurthy in Series A.
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