Surveillance solution company Videonetics raises Series A funding from GenNext Ventures

Kolkata-based surveillance solution company Videonetics Technologies Pvt Ltd has raised an undisclosed amount in its Series A round of funding from GenNext Ventures, according to a The Economic Times report citing its founder Tinku Acharya.

Founded in 2008, the company is an incubatee of Webel Venture Capital, from which it had earlier raised an undisclosed amount. This is the first round of institutional funding for Videonetics.

Its clients include Airports Authority of India, Mushrif Mall & Capital Plaza Mall in Abu Dhabi and Kuwait's Information and Communication Ministry. The company is targeting revenue of about Rs 20 crore in the current fiscal year, and competes with international firms such as Milestone Systems and AgentVi.

GenNext Ventures is a venture investment arm of Mukesh Ambani-controlled Reliance Industries. It had earlier invested in enterprise software firm Covacsis.

(Edited by Joby Puthuparampil Johnson)

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