Bangalore : 

Nexus Venture Partners  and Intel  Capital have together closed a Rs 53-crore investment in US-based cloud technology startup ElasticBox.

ElasticBox helps firms like Netflix, a TV and movie streaming service, to create, deploy and manages applications quickly and will use the funds to scale up its research and development and hire talent across Asia and Europe.

Even though cloud technology has improved how people access and use infrastructure, developing cloud-based applications is a lengthy, expensive and broken process.

“It is stuck in the dark ages, like way back in the days of bare metal,” said Ravi Srivatsav, co founder and chief executive of ElasticBox which had raised seed funding from A16Z Seed and Sierra Ventures .

The startup actually empowers the developers with preconfigured boxes that they can mix and match to create applications.

“It is similar to the way a DJ blends beats and samples to create new music. It brings Dr Dre-like creativity to enterprise application development,” said Srivatsav, a computer science engineer from University of Mysore, who co-founded the company in 2011 along with his Microsoft colleague Alberto Arias Maestro.

Experts say there have been two pivotal moments in enterprise infrastructure development: the creation and implementation of the virtual machine, and the rise of cloud services.

ElasticBox is now overhauling enterprise application development deployment and management within this cloud.

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

Most industries like finance and pharma develop hundreds or thousands of applications internally to support business processes.

ElasticBox said it empowers these enterprises to build better applications faster.

source: http://www.articles.economictimes.indiatimes.com / The Economic Times / Home> News> Startups / by Peerazada Abrar, ET Bureau / April 03rd, 2014