Delhi-based Floydwiz Technologies Pvt. Ltd, which runs operating system maker PrimeOS, has raised an undisclosed amount of seed funding from incubation platform Venture Catalysts, the company said in a statement on Wednesday.
The startup will use the funds for product development and to grow its business, the company said.
PrimeOS was founded in February 2017 by Indian Institute of Technology, Delhi alumni Chitranshu Mahant, Aman Verma and Aman Gupta.
Mahant was the former head of sales at ed-tech startup Smartivity, while Verma was a team lead at mobile payments firm Paytm and Gupta has worked at electronics major Samsung.
“Apart from fundraising, VCats has also supported the company in building the business and getting the right connections in the market,” co-founder Mahant said in the statement.
The main verticals that PrimeOS is targeting include ed-tech and consumer electronics. Its business model is built on licensing PrimeOS to laptop manufacturers. The company is also set to sell Primebooks, its version of Intel laptops powered by PrimeOS to leading ed-tech companies, the company said.
“The Indian ed-tech domain is on the cusp of explosive growth and consumer electronics has always been a highly lucrative market to be in. PrimeOS caters to both these high-potential market segments, making its offering highly compelling,” Apoorv Ranjan Sharma, co-founder and president of Venture Catalysts, said in a statement.
Venture Catalysts
Mumbai-based Venture Catalysts was founded by Sharma, Anil Jain, Anuj Golecha and Gaurav Jain in December 2015. It typically invests between $250,000 and $1 million in early-stage startups. Its most investments include medical-technology startup iNICU, crowdfunding platform ImpactGuru, Uttar Pradesh-based online eyewear marketplace ClearDekho, Kolkata-based Ideal Insurance Brokers, and lingerie brand InnerSense.
Recent deals in the space
Another firm that offers a similar operating system is San Diego, California-based KaiOS Technologies, which develops a feature phone operating system that powers Reliance Industries Ltd’s low-cost JioPhone. In June, it raised $22 million (Rs 150 crore) in a Series A round of investment from Google.