BANGALORE: ElasticBox, a U.S. based startup founded by a University of Mysore Engineer secured 53 crore funding from Nexus Venture Partners and Intel Capital. The startup offers cloud based services, that helps in enhanced online video streaming capability. ElasticBox will utilize the fund to enhance research and development and to expand the talent pool as reported by Economic Times.  

Ravi Srivatsav, Co-founder and CEO of ElasticBox comments that developing and deploying cloud based applications are costly regardless of the improvement in the way cloud services are being used. The budding venture had previously raised funds from venture firms including A16Z Seed and Sierra Ventures.

Founded in 2011, ElasticBox assits developers with ready to use boxes that can be blended seamlessly into any application. Ravi Srivatsav pursued his engineering from Mysore University, before leaving to U.S. to work with Microsoft. He founded the startup with his colleague Alberto Arias Maestro after resigning his job at software giant.

With the enterprise infrastructure development broadly classified into creation and implementation of virtual machine and cloud services, ElasticBox is pioneering the enterprise application development within the cloud.

Arvind Sodhani, president of Intel Capital said "It removes the complexity and cost and truly delivers the promise of cloud elasticity to enterprises”.

"We think this is the biggest step in cloud innovation since VMware and Amazon web services," commented Jishnu Bhattacharjee, managing director at Nexus.

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