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| Co-founders - Aditya & Amitabh |
SucSEED backs Ving Hybrid, a Digital Economy & Emerging Tech platform
Ving Hybrid Technologies India Pvt Ltd, has raised Funds from Hyderabad headquartered SucSEED Indovation Fund.Ving Hybrid had set out to solve an industry problem which had always existed for the users of Video Conferencing Room users. Adoption of Video technology has grown multi fold during the pandemic there by expanding the market and use cases in an exponential manner. Segments who were non users / slow adopters like Education and Govt have also got added to the market thereby increasing the prospects of success.
With the Vision of “Simplifying Collaboration”, Ving Hybrid aims to democratize the Video Conference Rooms by offering a “One Stop VC Room Solution”. Ving provides a seamless and a magical user experience across any VC room using any VC camera hardware and for meetings on any platform viz. GoogleMeet, Zoom, Webex and MS Teams.
Unlike other Video conferencing companies, Ving Hybrid allows users to enhance experience with its proprietary scan QR code to join workflow, making it extremely simple for users to join any meeting from any room using any VC camera. Major competitors in this segment allow controlling of devices through desktops/ laptops and need an HDMI cable for screen sharing etc. But Ving Hybrid solution allows users to control the room device and the meeting from their laptops or even from mobile phones also with an in-built wireless screen sharing system without any hardware cables.
Founded by two ex-Cisco Executives, Ving Hybrid Technologies has its presence in Singapore and India.
Aditya Pisupati, CoFounder & CEO of Ving Hybrid Technologies said,“ Our aim is to provide the best in class Hybrid collaboration experience by converging multiple conferencing and VC hardware workflows into one application. We enable users to join into any meeting, in any Ving enabled VC room through our proprietary ‘Scan to Join’ feature while making it really simple for IT teams to centrally manage their infrastructure.”
Amitabh Patney, Cofounder & CBO of Ving Hybrid Technologies said,"Built out of India, we plan to take the solution global, across Enterprises, SMBs and Coworking Spaces where the demand for easy to use VC rooms is growing exponentially”.
They further added that “The pre-seed investment from SucSEED Indovation Fund will help us fast-track the build of a scalable, secure next generation collaboration platform for the emerging Hybrid work scenarios.”
Speaking on why they have invested Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “According to Mordor Intelligence Report, The global video conferencing market was valued at $9.2 Bn in 2021 and expected to become $22.5 Bn by 2026 with 20% CAGR. There are a total 9 Mn VC rooms in 2020 and with the boom in the hybrid work model, it will lead to 30 Mn video conferencing rooms by 2026 at a CAGR of 38%. With COVID-19, the entire workforce has experienced a transition toward remote working, paving a way for video conferencing solutions and hardware products.
Ving is set out to disrupt the market opportunity of hybrid work environments through its deep tech business expertise and is targeting to onboard 200,000 rooms on the platform in the next 5 years.”
Market Potential
Covid has paved the way for organizations to adopt Hybrid work- allowing employees to either work from home, their offices and co-working spaces close to them. This has increased the need for VC rooms that can seamlessly connect into meetings scheduled across platforms. Ving solution enables this seamless interoperability and manageability of collaboration across a mix of devices and meeting platforms.As per Frost & Sullivan, The VC Devices market is slated to grow 6 times by 2025 to sales of 12.5Mn devices/ year. (Frost & Sullivan)
https://www.frost.com/news/press-releases/video-conferencing-devices-to-grow-six-times-by-2025-finds frost-sullivan/
About SucSEED Indovation Fund - SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with ₹100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors - EdTech, FinTech, Health-tech, Security & RegTech, Enterprise & MSME SaAS and Digital Economy & Emerging Tech.
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