Vayavya Labs Pvt Ltd, a Belgaum based software tool development company, has raised $1 million USD from the Indian Angel Network(IAN). This marks the 25th investment for IAN which picked a minority stake in the company. Vayavya Labs was founded in 2006 by R. K. Patil, Venugopal Kolathur, Uma Bondada and Parag Naik, all engineers by profession. The company builds software tools for consumer electronics, communication devices and medical equipments. The software tools helps in reduction of development and validation time helping Vayavya Labs customers to reach market faster. The company also has partnership with Microsoft, Cadence System and ARM Connected Community and is a member of SPIRIT Consortium. Vayavya Labs will use the funds to expand its toolset offerings, invest in research and development and business development.
Vivek Raghavan and Sharad Sharma of the Indian Angel Network will join the Vayavya Labs board as a part of this deal.