Nivio has secured $21 million in funding, hot on the heels of its U.S. launch at Macworld|iWorld. The investment will support nivio’s mission to bring the magic back to computing, by expanding engineering efforts in nivio’s Palo Alto, Calif., office and further roll-out of the cloud platform across nivio’s operating regions in Europe, Middle East, India and Australia, the company said.
The round was completed by Videocon, a $5 billion conglomerate headquartered in India, and AEC Partners, a boutique private equity firm in Kansas City with specialized holdings in telecommunications and technology.
“We are extremely happy to bring two new passionate investors into our team,” said Sachin Dev Duggal, co-founder of nivio. “We’re also very proud that nivio has successfully delivered seven-times returns to some of our angels in this round. The support we’ve received from our angels over the last seven years has been unparalleled and without their support we would not have gotten this far.”
Nivio is a startup providing access to desktop applications, data and a familiar Windows environment from anywhere in the world, on almost any device, Mac or PC, android tablet or iPad, notebook or netbook, according to the company.
The funding announcement comes at a time when the market for cloud desktop computing is rapidly expanding, the company said.
“I have been involved with nivio for three years and have seen it grow from a visionary idea to a breakthrough product that is now poised to make a major impact. In that time, the Company has assembled a world class management team that is leading its launch in the US, the world's most demanding computer market,” said Adrian Cox, a nivio board member and previous executive vice president and CEO of Ask.com Europe.
Beyond nivio’s product vision, the company has also stated a dedication to creating “a company that’s both innovative and a sexy place to work in the coming years.”
“With a strong and vibrant culture, the job of the CEO or Chief Wizard is fairly straight-forward: paint the universe, bring in a team of all stars and then just keep them shining bright,” said nivio co-founder, Sachin Dev Duggal.