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December 18, 2007

Deal Alert: IDG invests in IISc incubated co.

Extracts from IDG Ventures' press release:

IDG Ventures India, a $150 Million early-stage technology venture capital fund, has announced its investment in 3D Solid Compression (3DSoC), a startup incubated by Stanford University and Indian Institute of Science (IISc).

3D Solid compression has been co-founded by Prof. Fritz Prinz (Stanford) Prof. B. Gurumoorthy (IISC), Dr. Krishnan Ramaswami and Mr. K K Venkatraman around the vision of ‘3D for All’. 3DSoC is positioned to be a key player in the 3D content creation and visualization space with VIS (Virtual Interactive Solid), its novel 3D representation format. The ability to interact with the concise representation enables 3DSoC to straddle markets as diverse as 3D Publishing and Visualization and Rich Internet Applications. Today, 3DSoC’s customers in India include major players in the Automotive and Engineering verticals who see significant benefits in leveraging 3D product data in both marketing and the MRO side of the business, due to the highly compressed nature of the files. VIS is a multimedia representation where, in addition to 3D shape information, animation, textures, audio and text may be integrated.

“It is our belief that 3D technology adoption forms the next wave of innovation in digital distribution of content. Whether it be 3D GUI’s, Rich Internet applications, a Second Life like platform or global engineering digital supply chains, our investment in 3D Solid compression is well positioned to ride this wave.” said Mr. Sudhir Sethi, Chairman & Managing Director, IDG Ventures India. "After ConnectM, a spinout from Sasken, this is our second spin out, this time from two leading academic institutions."

“Our vision is to enable 3D Animated Content creation and experience by ALL from large enterprises to the common man with the freedom to deliver the content on any platform – from desktop to handheld. 3DSoC’s value proposition lies in its ability to compress models significantly and allow for interaction at the same time. You can potentially distribute heavy 3D models over the internet or even mobile networks. We are seeing good traction with the enterprise sector for our present product offerings and will be using the funding to achieve the same on the mass consumer side. Our immediate priority is to hire top talent for accelerating product development and building out the global sales infrastructure. We hope to benefit from the rich experience of the investor nominees on the board, the strong presence of IDG globally and their long standing connections with the publication vertical.” said Mr. K. K. Venkatraman, co-founder and CEO of 3DSoC.

“Even though the VIS models are very concise, they are lossless. Thus it is possible to create precise and complex 3D models that are smaller than the static image files. A static 3D model can be compressed by up to 100 times even with animation embedded in it. Our goal is to create a platform that enables easy creation of animated 3D models by a novice user. One of our customer’s experiences has been that models that took a few months to create with existing tools took only a few days to create with our product. We believe that 3D content will be the next wave of user generated content that will be disseminated on the web.” said Mr. Krishnan Ramaswami, co-founder and CTO of 3DSoC.