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Ikonz Studios raises $5 Mn in pre-Series A round

EntrackrEntrackr · 11m ago
Ikonz Studios raises $5 Mn in pre-Series A round
Medial

Ikonz Studios, specializing in hyper-realistic, multilingual digital avatars and holographic technology, has secured $5 million in strategic funding as part of its ongoing pre-Series A round from Marc Jordan. The round also saw participation from Ramana Thummu, Madhusudan Kela, and Akash Bhanshali, with all four investors joining through their family offices. According to a press release by Ikonz Studios, the funds will be used to accelerate its global expansion, enhance AI capabilities, and scale its IP portfolio. Founded in 2021 by Abhinav Varma Kalidindi, Ikonz Studios is a next-generation AI company leveraging generative AI to create hyper-realistic, multilingual digital avatars and holographic experiences. The company aims to revolutionize digital engagement by bringing iconic personalities to life through interactive and intelligent AI-driven experiences. The Hyderabad-based firm is focused on advancing its AI technology, integrating real-time voice and video processing with visual recognition capabilities. This enables AI avatars to "see" and interact with users in both digital and physical environments. Ikonz Studios utilizes generative AI and holographic technologies to develop hyper-realistic avatars, transforming engagement across industries such as banking, healthcare, education, and retail. While the company has a strong presence in India, it also plans to expand into the North American market.

Avaana Capital leads Seed round in Dharaksha Ecosolutions

EntrackrEntrackr · 1y ago
Avaana Capital leads Seed round in Dharaksha Ecosolutions
Medial

Biotech-driven R & D start-up Dharaksha Ecosolutions has raised Rs 24.8 crore (about $2.95 million) in a Seed funding round led by Avaana Capital. Dharaksha had previously raised $522K led by LetsVenture and others. It was also featured on Shark Tank India Season 3, where it secured an all-shark deal. The proceeds will be utilized to expand its production capabilities, intensify R&D practice and strengthen market presence, Dharaksha Ecosolutions said in a press release. Co-founded in 2020 by Anand Bodh and Arpit Dhupar, Dharaksha Ecosolutions replaces conventional plastic and petroleum-based packaging with sustainable alternatives made from agricultural waste. It utilizes agricultural waste as feedstock to develop mycelium-based packaging materials that are fully biodegradable. The Delhi-based company aims to create a sustainable alternative to non-biodegradable materials, completing a circular ecosystem by returning nutrients to the soil through composting. Dharaksha claims that it is also working on alternatives for plastic films, which too will be made from extracts generated by mushrooms in the submerged growth stage. These films are waterproof and biodegradable, offering a sustainable replacement for conventional plastic films. Both the MDF board alternative and the plastic films are currently at the lab stage and will undergo third-party testing and market validation. Dharaksha plans to commercially launch these products by next October.

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