JP discusses his virtual Computer Vision company that spans Germany, Nashville, Islamabad and more, and caters to very large customers in Logistics, Retail, and Healthcare.
Sramana Mitra: Let’s start by introducing our audience to yourself as well as to Darvis.
Jan-Philipp Mohr: I started Darvis about seven years ago. At that time, we were still called Hashplay. We pivoted in 2019. Since then, we concentrated on building the ultimate visibility platform for spaces. We use computer vision to translate the real world into data. We do that in logistics and hospital use cases.
>>>Sramana Mitra: Let’s talk about your portfolio. What are some of the highlights that you’re proud of that are illustrative of how you operate? At what stage did they come to you? Why did you pick them over others?
Anup Jain: I’ll probably start with the principles. All our companies have to cross those barriers. We’re proud of having invested in each one of them. We look at the early stage for the quality of founders and the level of cohesion. When they pitch to us, we look for a well-crafted and well-communicated storyline. That is extremely important. In there is the rational and the emotional stuff.
>>>Sramana Mitra: The bulk of your revenue right now comes from the home security segment.
Yamin Durrani: That’s right.
Sramana Mitra: Based on where you sit, where do you see open problems where new entrepreneurs could come in and build new businesses? Where would you point and steer new entrepreneurs towards?
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>>>Sramana Mitra: What is the fund size of Orios?
Anup Jain: I would comment on the check size. The check sizes at the seed stages have gone up. In response to that, Orios invests anywhere between $1.5 million to $2.5 million in the seed stage. We look for some degree of data and traction before we make that investment. Pre-seed is an area that is very vibrant.
2021 was one of the high points for India as well. We feel that we should participate given the rate of digital adoption in the economy. Companies are being given the opportunity to scale much faster. They shouldn’t have to come back to investors over shorter periods of time to seek an extension of runways or to conduct experiments.
>>>Sramana Mitra: How do you sell these use cases? How does GE, for instance, sell these use cases?
Yamin Durrani: Not everyone is selling all of these use cases. GE has smart lighting. They want to combine the security angle with the lighting angle. If there is detection of a human being by the camera, then lights should turn on. They can detect if there is nobody present in the room. They could switch off the lights. They can program it for different lighting. The primary goal is security.
Sramana Mitra: This is the OEM strategy mostly through security apps. What about the other verticals that you’re going into?
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>>>Anup Jain, the Managing Partner at Orios Venture Partners, discusses the Indian startup ecosystem and its trends and nuances.
Sramana Mitra: Tell us a bit about your background as well as about Orios.
Anup Jain: I’m an accidental VC. I didn’t grow up in this ecosystem, but I’m very passionate about entrepreneurship. When I started my corporate career with Procter & Gamble, it was a dream job. I’ve always been excited about doing innovations and disruptions. It brings about meaning to all stakeholders.
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