Innoviti Embedded Solutions, a promising start-up in the consumer wireless products space, today announced that Titan Industries (through its affiliates) has taken an equity stake in the Innoviti.

"Titan Industries is excited about its investment into Innoviti and looks forward to this relationship developing into several strategic initiatives in the consumer wireless space. Titan Industries has been in the forefront of adapting technology to its existing product offerings to the consumer through brands that are known for their innovation, quality and trust. Through this relationship, Titan Industries will be enhancing its technology reach into the wireless space - one of the most important innovations to affect a consumer in the 21st century," said Bhaskar Bhat, managing director, Titan Industries.

Innoviti has been a pioneer in taking the "Designed in India" brand in the consumer electronics space to the world markets. Its products 'vaayu' and 'payezee' which have been designed in India and marketed under Innoviti's brand name have been introduced in the US and Asia Pacific markets over the past twelve months and are rapidly gaining market share.

Innoviti is today working on next generation wireless technologies, especially those targeted at smart personal objects and next generation mobile networks. "The current investment by Titan Industries is a strategic one, aimed at further enhancing Innoviti's national and global market reach", said Rajeev Agrawal, CEO — Innoviti. "We are proud to have Titan as an investor and look forward to this relationship helping us propel our growth further," added Rajeev.

About Innoviti

Innoviti Embedded Solutions is a promising start-up in the consumer wireless space. It aims to deliver simple innovative communication solutions that truly simplify communications. Innoviti has today two product lines, vaayu TM and payezee TM, both being marketed in the Indian and global markets. The company has 3 design registrations awarded to it and five patents pending.

innovitiTM, vaayuTM and payezeeTM are trademarks pending of Innoviti Embedded Solutions.

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Titan Industries is India's leading manufacturer of watches and jewellery and the world's sixth largest manufacturer brand of watches. Established in 1984 as a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation, the company transformed the Indian watch market, offering quartz technology with international styling, manufactured at its state-of-the-art factory at Hosur, Tamil Nadu. In 1995, the company diversified into jewellery under the brand Tanishq.

Leveraging its understanding of different segments in the watch market, the company launched a second independent watch brand — Sonata — as a value brand to those seeking to buy functionally styled watches at affordable prices. It also entered the segment of premium fashion watches by acquiring a license for global brands such as

Tommy Hilfiger. Titan has also diversified into fashion eyewear with its Fastrack Eye Gear sunglasses. Further, Titan leveraged its manufacturing competencies and branched into precision engineering products and machine building in 2003.