VenSat raises capital from IUVP
VenSat, a Hyderabad based media and entertainment startup which offers a wide range of world-class creative services in 2D, CGI, VFX, and 2D-to-3D conversion has raised $5M from Bangalore based Indo US Venture Partners (IUVP).
VenSat had completed 10 projects since its inception in December 2009, including VFX for blockbuster films- Robot and Dabangg. It currently has six projects in hand, including four films.
Vensat was launched in Dec 2009 and was founded by ex Satyam BPO honchos - Venkatesh Roddam and Satyanarayana Mudunuri, company was christened with first three English alphabets in their respective names.
Vensat operates from two centres in Hyderabad and Chennai employing 30 and 80 people respectively. Looking to establish a presence in the $500-billion entertainment market in the US, the company today announced its US arm, VenSat America, which would be led by Ken Silverman, CEO and president, and John Follmer, vice president and chief operating officer.
The company recently delivered work for a full-length animated motion picture for a major European entertainment group and all VFX for ‘Land of Astronauts’, for Studio Cineville, in the U.S., which was premiered and showcased at the Montreal Film Festival and at the recently concluded Mumbai Film Festival.
-Hitesh, vcBytes.com
