RTVL & Mumbai Angels invest in Dhama Apparel Innovations

16 Jun '09

5 min read

MIT graduate. Sasha Mirchandani co-founder Mumbai Angels and MD Blue Run Ventures ( India) commented “We felt that Kranthi had done a great job of bringing the company to this stage on a shoestring budget. This coupled with a big market opportunity were the key criteria for us to do this deal.” Mr Kranthi Vistakula is very aggressive among nine start ups at NDBI, and ready with dynamic strategies to take his innovation to the market successfully, says Mahesh Krovvidi, Chief Operating Officer of National Design Business Incubator.

Mr. Kranthi Kiran Vistakula, Founder and CEO, Dhama Apparel notes, “We look forward to working with Reliance Technology Ventures and Mumbai Angels to aggressively expand our footprint in India and overseas. We plan to be in the forefront of innovation and increase our presence in the Defense, Industrial and Sports sector.”

Dhama Apparel Innovations has developed technology that can be incorporated into apparel or accessories to provide thermal comfort. Dhama's current ClimaCon technology provides heating and cooling solutions on demand and can be incorporated into any kind of apparel. ClimaCon is designed to supplement the human body's thermal regulation by not obstructing the sweat evaporation. For maximal effect, the cooling/heating points are strategically located on places where sweat production is minimal and there is high concentration of blood vessels. Dhama's products incorporate ClimaCon technology allowing the user to choose the temperature that comforts him/her (warmth or cold). This application enables the wearer to remain in the harsh environment without added stress, discomfort, health problems, or lowering productivity.

Reliance Technology Ventures Ltd, is the corporate venture capital arm of the Reliance ADA Group and has advised and / or invested in deals to the tune of over $4 billion. Yatra.com, India's largest on-line travel portal, Pelago Inc, Suvidhaa Infoserve, Sequans Communications, Stoke Inc, E-Band Communications Corporation, Seedfund,Dhama Apparel Innovations are some of its portfolio investments. RTVL had also advised Reliance Globalcom in the acquisition of U.K. based eWave World and in the $300 million acquisition of US based Yipes Holding, Inc, a leading provider of managed Ethernet Services. eWaveWorld is now Reliance WiMAX World and represents the Group's $500 million initiative to bring WiMAX to 50 countries by 2012. RTVL has also led the investment into an undisclosed technology company, which formed the basis of the largest venture capital transaction in India. RTVL invests in leading edge technologies, disruptive business models and technology enabled companies around the world.

Started in November 2006, the Mumbai Angels is a unique forum where its members may interact and exchange ideas & knowledge. The Mumbai Angels provides a unique platform to start up and very early stage companies by bringing them face to face with successful entrepreneurs, professionals and executives who are interested in and have the funds available to invest in startup companies.

NDBI is an initiative of the National Institute of Design(NID), Ahmedabad set up with the support of Department of Science & Technology, Govt. of India, New Delhi. NDBI inculcate spirit of entrepreneurship in the creative minds of young designers, so that their ideas get transformed into new products or services capable of being marketed and sold, giving birth to a new class of entrepreneurs – “The Designpreneurs”.

Reliance Technology Ventures Limited (RTVL)

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