YourNest Angel Fund, an early stage venture capital firm has announced its first investment in Proof of Performance Data Services (PoP), a startup that offers insights to decision makers based on Video Analytics from the archives of the real world videos, available on it’s cloud based platform, christened Earthive. The investment will be used for infrastructure facilities, product extensions, and technology adoption and to strengthen its technology platform, Earthive.
The Earthive platform videos are captured through pre-defined drive-throughs within the city at regular intervals. The high definition videos and allied data such as GPS coordinates are then mined to extract the required business intelligence. The Earthive platform will use PoP’s patent pending data acquisition technology and use concepts of Video Analytics and Cloud Computing, among others. The company is a CIIE Portfolio company, and was seed funded by the Department of Science & Technology. Pranay Gupta, the Jt. CEO of CIIE, is on the Board, as an Observer.
YourNest Angel Fund is SEBI registered venture capital fund (recently received FIPB approval for induction of foreign investment) and seeks to raise Rs.100 crore from Indian investors to invest in the post incubation stage of a venture and plans to build a portfolio of 15 – 18 exciting Indian companies by investing up to Rs.5 crore each in the initial round of funding.