AjnaLens, Augmented reality startup owned by Dimension NXG Pvt. Ltd, has raised $1.5 Mn in a pre-Series A round.
Maharashtra Defence and Aerospace Venture Fund (MDAVF) led the round while several HNI investors including Nailesh Khimji, Chirayu Khimji, Jay Jesrani & Mohsin Group also participated in the round.
AjnaLens will mainly utilize the funds to improve its defense related products, manufacturing headsets and further enhancing its technology and product capabilities. Additionally, it also plans to invest the funds for talent acquisition and market expansion.
Commenting on the funding, Amey Belorkar, Vice President – IDBI Capital Markets & Securities Ltd. & Investment Manager of MDAVF commented, “Dimension has developed a high quality MR product for the defence sector – AjnaBolt. It is an excellent solution for enhancing the capability and empowering our armed forces and internal security personnel. In addition, the product also has varied applications.”
Existing investor Nailesh Khimji, who also participated in the round, said “I am already seeing interesting use cases of AjnaLens in our business training, operations, and maintenance. AjnaLens will surely have path-breaking use cases in defence and medical areas.”
Before this funding round, the company had raised angel funding from several high profile angel investors including Vijay Shekhar Sharma (Founder & CEO of One97 & Paytm). Other angel investors Japan Vyas, Chetan Kajaria, Manish Bhatia and Jay Jesrani had also participated in the round.
Founded in November 2014 by Pankaj Raut, Abhishek Tomar and Abhijit Patil, Ajnalens aims to bring positive change in society from grassroots leveraging AR, VR, MR, and AI technologies.
AjnaLens is the only Indian company to manufacture mixed reality glasses in India. Its mixed reality glasses seek to improve human intelligence so that masses can realize their full potential.
Current product offerings:
- AjnaBolt – A military-grade AI-powered Mixed Reality glasses.
- AjnaLite/AjnaLite+ – Wireless AR/VR headset with industry-leading 84° FOV, astonishing holographic clarity and much more.
Its latest product offering, AjnaBolt, was officially unveiled at DefExpo 2020 in Lucknow, Uttar Pradesh. The DefExpo 2020 exhibition was visited by Honorable Indian Prime Minister Narendra Modi and Defense Minister Rajnath Singh.