It is in talks to raise approximately $15 million (â¹124 crore) in a round led by a Southeast Asian family office that is likely to invest $5 million. However, the name of the entity couldn't be immediately ascertained.
The distinctive aspect of this funding round is that not only will many large existing institutional investors participate, the company will also see contributions from angel investors, its founder as well as over 70 employees.
Innoviti is gearing up for an IPO within 18-24 months, the people cited above said, seeking anonymity.
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IMAX India box office collections dip 36%
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