VenSat Tech Services, a media and entertainment startup offering animation, visual effects (VFX) and 2D-to-3D conversion, has tied up with Bangalore-based venture capital firm Indo-US Venture Partners for $10 million (Rs 222 crore) funding, to be invested over the next six months in its operations in the United States.
Announcing this, VenSat executive director Venkatesh Roddam told reporters on Tuesday that the company had completed 10 projects since its inception in December 2009, including VFX for recent films Robot and Dabangg. It currently has six projects in hand, including four films.
The company has so far invested around $5 million (Rs 111 crore) in its operations. It has 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.
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