Altia Systems Announces New Investment by Naya Ventures and Adds Industry Veteran Dayakar Puskoor to Board of Directors

HYDERABAD, India, October 29, 2013 /PRNewswire/ --

Altia Systems, developer of the award-winning PanaCast system that is redefining the world of video and web collaboration, today announced that it has raised $6.7 million to date, including a recent investment by Naya Ventures, a new type of venture capital firm specializing in emerging growth companies in the mobile and cloud market. The company also announced that it has appointed Naya Ventures' Managing Director Dayakar Puskoor to its Board of Directors.

Altia Systems' flagship product PanaCast, is a disruptive immersive video collaboration solution with a full 200 degree field of view, which allows remote participants to see the full human panoramic perspective with individual control, just as if they were there. The solution runs on billions of PCs, tablets and smart phones worldwide, and with exceptionally low bandwidth requirements it works almost anywhere. Targeted towards the enterprise, PanaCast transforms video and web collaboration through the immersive and individualized experience it provides each participant. Additionally, it augments popular web collaboration tools such as Cisco's WebEx, Microsoft Lync, and Citrix's GoToMeeting by adding panoramic-HD video to the collaboration suite. PanaCast can be easily installed in all conference/collaboration rooms in an enterprise at a fraction of the cost of traditional video conferencing equipment. More than 150 enterprise customers have purchased PanaCast since its launch at DEMO Mobile 2013 in April, where it won the DEMOgod award.

As a Board member of Altia Systems, Puskoor, a wireless industry visionary and former Microsoft executive whose background includes founder and CEO of JP Mobile (acquired by Good Technology/Motorola) and M2 Junction (acquired by SinglePoint), will provide strategic counsel to the company. Collectively, Puskoor and the Naya Ventures management team have founded and sold mobile technology companies creating more than $500 million in shareholder value.   

"We are delighted to have Naya Ventures as part of our team and to have Dayakar join our Board," said Aurangzeb Khan, President and CEO of Altia Systems. "Both Naya's expertise in early stage mobile and cloud based companies and Dayakar's exceptional track record in building successful enterprise and mobile solution companies will be great assets as we rapidly scale our company."

"It's exciting to join Altia Systems at this inflection point as the unique PanaCast solution is scaling into large enterprises," said Puskoor. "This technology is as disruptive to business collaboration as the iPhone was to the mobile market. It is Telepresence for everybody."

About Naya Ventures

Founded in 2011, Naya Ventures invests in early stage mobile technology and cloud based companies where its product development expertise, emerging market channel relationships and go-to-market strategies can efficiently increase enterprise value. Led by serial entrepreneurs in the mobile and cloud industry, Naya Ventures' principals work alongside a global network of C-level executives and general partners at influential US technology companies and venture funds.  Naya's strong mobile and cloud industry reputation, its relationships with leading technology companies such as Microsoft and its global network of technology and market development resources help accelerate value creation. Its relationships also provide Naya with an extensive deal sourcing and follow on funding capability. http://www.nayaventures.com

About Altia Systems

Altia Systems™ (http://altiasystems.com) is a venture-backed company based in Cupertino, California, and creator the PanaCast™ solution. PanaCast™ is a unique experience that enables anyone on desktop or mobile to communicate in interactive, real-time Panoramic-HD 200⁰ field-of-view video that replicates the human panoramic perspective. Follow @panacast1 on Twitter® for updates.

PanaCast and Altia Systems are trademarks of Altia Systems, Inc.

All other trademarks and registered trademarks previously cited are hereby acknowledged and recognized.

Primary Media Contact: Arjun Kumar Sahu, [email protected], 91-9866787958