Digital twin solutions provider Intangles Lab has raised $10 million in a Series A funding round led by Baring Private Equity Partners India.
According to the startup, The raised funds will be used to serve a new customer pipeline, expand its global presence, and accelerate hiring to strengthen its product engineering, sales, and delivery teams.
Founded in 2016 by Anup Patil (CEO), Neil Unadkat (CTO), Aman Singh (Head of Analytics), and Jayshri Patil (Head of Embedded Systems), Intangles has developed substantial in-house IP by leveraging its proprietary digital twin and machine learning paradigms to provide predictive vehicle health monitoring solutions to OEMs and fleet operators.
“We are focused on growing our presence across the entire commercial vehicle segment across the globe. Going forward, we aim to revamp the electric vehicle segment using our ambient cognitive AI technology. To sustain a growth rate of over 200 per cent year-on-year, we are constantly expanding our team by hiring on multiple levels throughout the organisation,” said Anup Patil, Co-founder and CEO of Intangles.
The startup said that it aims to become the Digital Twin Open-Source Software (OSS) of the world across all segments. “This will be accomplished while helping fleet operators monitor, benchmark, and conduct predictive maintenance of assets and identify underperforming assets to increase overall operational profits,” Anup said.
“Intangles is a leader in digital twin technology, enabling efficiencies in automotive and industrial applications. Integrating deep competency in artificial intelligence, predictive analytics, edge computing, and communication technologies has allowed it to build its state-of-the-art product suite. After getting strong traction in the Indian market, it is venturing into Western markets,” said Rahul Bhasin, Managing Partner, Baring India.
Source @Indianstartupnews
