Velmenni Secures $3.42 Million in Pre-Series A Funding
Velmenni, a company specializing in light-based wireless communication technology, has successfully raised $3.42 million (₹30 crore) in a Pre-Series A funding round. The round was led by pi Ventures, with additional participation from MountTech Growth Fund-Kavachh and Apekso.
Focus on Light-Based Wireless Solutions
The funding will be directed towards the commercialization and global expansion of Velmenni's innovative Free Space Optics (FSO) and Light Fidelity (Li-Fi) solutions. These technologies are designed to provide high-speed and secure wireless connections without relying on traditional fiber or radio frequencies (RF), addressing connectivity challenges in various sectors.
Velmenni's solutions are particularly valuable in areas where fiber and RF technologies face limitations, such as densely populated urban networks and remote rural regions. The company's technology can operate over distances ranging from 1 to 25 kilometers, offering connectivity speeds exceeding 10Gbps.
Strategic Applications in Telecom and Defense
Velmenni has already made significant progress in the telecom and defense industries. Notably, the company deployed India's first commercial carrier-grade FSO backhaul link, facilitating a private 5G network at a GMR thermal power plant in Odisha. This installation has maintained a remarkable 99.999% availability over 18 months, demonstrating the reliability of FSO technology in challenging environments.
Leadership and Vision
The company was founded by Deepak Solanki, who serves as the CEO, alongside Co-Founder Nikhil Bhulabhai. Solanki emphasized the importance of this funding round in propelling Velmenni's technology to new markets and applications. "Our goal is to bridge the connectivity gap in areas where traditional infrastructure falls short," he said.
Use of Funds
The fresh capital will be utilized to enhance Velmenni's technology offerings and support its global scaling efforts. The company aims to strengthen its presence in the telecom sector, providing solutions that are crucial for regions with inadequate infrastructure. Additionally, Velmenni plans to expand its footprint in defense applications, catering to the need for secure, interference-free communications in extreme environments.
This funding round marks a significant milestone for Velmenni as it continues to innovate and redefine wireless connectivity through its light-based technologies.