EON Reality to invest $20 mn in tech startup Amaze Infotainment

EON Reality Inc, a California-based virtual (VR) and augmented reality (AR) software developer, is in the process of closing a $20-million (Rs 132 crore) deal with Hyderabad-based technology start-up Amaze Infotainment by early October. Besides fund infusion, the partnership will involve VR- and AR-based knowledge transfer in the areas of education, edutainment and advertising, Managing Director Bajrang Shah told Business Standard Stock Market Trading Tips

“As part of the deal, Amaze Infotainment will set up two interactive digital centre (IDC) networks for EON in India, focused on skills development and knowledge-sharing areas. The two IDCs, which will be located in Hyderabad and possibly at Gurgaon together employing 400 professionals, will be up and running within the next four months,” he said.

Amaze Infotainment would work in tandem with EON and roll out futuristic VR- and AR-based technologies from the proposed IDCs for the global markets, he added.

Founded in 2013 by Bajrang Shah, who is also an advisor to 'India Demo Day' from Design Labs, an Indian School of Business initiative, Amaze currently has offices in Hyderabad, New Delhi and Mumbai. It is planning to open a 40,000-sq ft centre in Bengaluru in two months from now Indian stock market astrology prediction