Florintree backs video computing platform Videonetics

By Aman Rawat

  • 14 Sep 2023
Mathew Cyriac, executive chairman and managing director, Florintree Advisors

Growth-stage private equity firm Florintree Advisors, Thursday said that it has invested an undisclosed amount in Kolkata-based video computing platform Videonetics.

Mumbai-based venture capital firm GenNext Ventures Fund and a US-based global investor exited the company as part of this transaction.

Videonetics is amongst the few Indian companies with a core DNA of R&D and innovation, having created significant IP in its domain, said Mathew Cyriac, executive chairman of Florintree Advisors.

Videonetics was founded in 2008 by scientist and inventor Tinku Acharya. The company provides video management software. Besides India, the company has operations in the Southeast Asian markets, with its other office in Singapore. It is looking to expand its operations in other geographies as well.

“Videonetics had achieved a great milestone by taking a leadership position in India. Videonetics is poised to become a dominant player in the global arena and add significant value to the marketplace. Moreover, our innovations in AI-enabled video computing technologies will continue, and I am confident that they will scale to newer heights," said Acharya, chairman and managing director, Videonetics.

Florintree was founded by former Blackstone executive Mathew Cyriac in 2017. He was part of multi-bagger transactions at Blackstone.

The private equity firm invests in technology-backed firms. Its portfolio includes Freight Tiger, a SaaS-enabled digital freight network; Chennai-based defence supplier Data Patterns (India) Pvt Ltd; logistics companies Allcargo Global; tractor manufacturer International Tractors; commodity exchange MCX; IT firm CMS Infosystems; insurance broker OneInsure; subway sandwich chain Bread Basket; lender CASHe; fintech startup City Cash; fantasy sports platform Fantasy Akhada, among others.