Technology »  Topic »  Reliance Industries cranks up startup shopping spree with Tesseract deal

Reliance Industries cranks up startup shopping spree with Tesseract deal


Reliance Industries Ltd has acquired Tesseract Imaging Pvt. Ltd, a firm that produces software and hardware for augmented, virtual and mixed reality – the entity is the latest in a startup buying spree as the Mukesh Ambani-led conglomerate aims to become a tech powerhouse.

According to a report by Inc42 citing a filing with the ministry of corporate affairs, Reliance acquired a 92.7% stake in the company in May.

Tesseract founder and chief executive Kshitij Marwah said the company would continue to work independently following its acquisition by Reliance, according to the report.

VCCircle has reached out to Reliance on ...


Read the full text vccircle