Deep Tech Startup Awiros Raises $7mn by Inflexor and Exfinity
Deep tech startup Awiros has raised $7 million in a Series A round today. The tech-focused VC funding was led by Inflexor Ventures and Exfinity Venture Partners with an aim to strengthen growth and accelerate global expansion. The current round also witnessed participation from VedaVC, leading family offices and UHNIs. Awiros aims to utilise the funding towards product enhancement and driving business growth in the overseas markets. This funding round will allow the firm in augmenting the India and US teams, both in technology and sales-related functions. Founded in 2015 by Vikram Gupta and Yatin Kavishwar, the startup develops an AI-based computer-vision platform for video processing by offering Video AI “Apps” for customers to discover and adopt suitable technology solutions. Vikram Gupta CEO and co-founder of Awiros said, “Awiros is one of the fastest growing companies in the Video AI space in India and this funding round will help us build further momentum for global growth by increasing our market share, streamlining technical operations and investing in the R&D of existing and new product categories. By onboarding the seasoned deep-tech investors from Inflexor and Exfinity, Awiros will benefit heavily from their extensive experience in technology, international business and scalable GTM.” It is widely believed that several enterprises have been actively deploying Video AI solutions across automation, safety and process monitoring with the market projected to reach an estimated $27 billion by 2030. Among the leading tech companies in India, Awiros is accelerating the adoption of this technology, where its average customer subscribes to more than ten apps today, an increase from four apps in 2019. It caters to several Fortune 500 clients and large-scale Video AI deployments across manufacturing, data centres, critical infrastructure and public safety.
The company also witnessed participation from VedaVC, leading family offices and UHNIs.
The company also witnessed participation from VedaVC, leading family offices and UHNIs.
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