Reliance Technology Ventures Ltd (RTVL), the corporate venture capital arm of Reliance ADA Group and Mumbai Angels have invested an undisclosed amount in Hyderabad-based Dhama Apparel Innovations Pvt Ltd (DAIPL). Dhama’s patented technology provides heating / cooling solutions to people living and working in difficult climatic environments.
Founded by Kranthi Kiran Vistakula in January 2008 and currently based out of National Design Business Incubator at National Institute of Design (NID), Ahmedabad, the company has received both Phase I and Phase II grant from Technopreneur Promotion Programme from Indian Government’s Department of Scientific & Industrial Research (DSIR) to develop and commercialise the products with ClimaCon technology.
Dhama plans to use the funds raised to increase their sales and marketing capabilities worldwide and towards product innovation. The technology is of immense use to military personnel, outdoor / industry workers and sports enthusiasts.
According to Harshal J Shah, CEO of RTVL (also an MIT graduate), Reliance has always been a pioneer in technology development. "We believe Dhama’s technology is a strong enabler of human body’s thermal regulation, and its validation by MIT and Kranthi's winning MIT's Business Plan Competition. Dhama’s product can be incorporated into any kind of apparel especially in defense and athletics to provide heating and cooling on demand which would increase the work efficiency and comfort factor for its users."
Sasha Mirchandani co-founder Mumbai Angels and MD Blue Run Ventures (India) commented, "We felt that Kranthi had done a great job of bringing the company to this stage on a shoestring budget. This coupled with a big market opportunity were the key criteria for us to do this deal."
The company’s current line of products includes ClimaGear, a jacket/vest, ClimaNeck, a neck accessory and ClimaMet, an helmet. These products are embedded with ClimaCon technology developed by DAIPL. This technology allows the wearer to select the choice of temperature he/she wants to feel, thereby allowing the wearer to adjust to harsh environments without added stress, discomfort, health problems, and reduced productivity. It's products are developed to supplements the human body’s thermal regulation by not obstructing sweat evaporation.
According to Vistakula, founder and CEO, Dhama Apparel said, "We will workd towards aggressively expanding our footprint in India and overseas. We plan to be in the forefront of innovation and increase our presence in the defense, industrial and sports sector."
The company's ClimaCon technology is superior to all existing technologies such as phase change or vapor compression due to its active and lightweight components. DAIPL products are targeted towards personnel working and living in extreme heat, which may cause adverse effects on the human body. Dhama’s patented technology has won the prestigious Gold Medal at Lockheed Martin’s Innovator’s competition in 2008, first prize winner in the India Innovation Pioneer’s Challenge, Champion of Champions category in 2008 and MIT USD 1K Business Plan Competition in 2005.