Technology major Cisco Systems, which has a large presence in the enterprise market, has invested in a digital media start-up called Qyuki. The start-up has been founded by Oscar winning music composer and music director A R Rahman and Shekhar Kapoor, an Indian film director and producer (of Mr India, Bandit Queen and Elizabeth fame).
When contacted by Techcircle.in, the Cisco spokesperson replied, "We can only confirm that we have invested in Qyuki, however cannot provide much additional detailing on the deal, since this is against our corporate and legal policies."
But, according to the Economic Times, the company has invested Rs 27 crore to pick 17 per cent stake in Qyuki, a start-up that is yet to go live (a message on its website reads 'coming soon').
The new venture will enable creative content to be co-created by multiple users, which can then be distributed through various different devices by leveraging the start up's technology platform.
As of now, Cisco is the only venture investor in the company. Earlier, A R Rahman invested in Qyuki in June, 2011 and has a 4.5 per cent stake in the start up while Kapur owns around three fourth of the company. The start up has been valued at around Rs 160 crore and is currently looking for concept artists, visual designers, Web 2.0 programmers and post animators.