Deeptech startup Awiros has raised $7 million in its series A funding round led by Inflexor Ventures and Exfinity Venture Partners, with participation from sector-agnostic fund VedaVC, family offices and high-net-worth individuals (HNIs).
Awiros aims to use the funds to improve product, build its developer community, and growth in India and overseas markets. The funding round will also allow Awiros in increasing the size of its India and US teams, both in technology and sales-related functions.
Founded in 2015 by Vikram Gupta and Yatin Kavishwar, Awiros offers a device-agnostic operating system that automatically upgrades these Video AI applications and also, increases their use cases. Its operating system stops organizations from manually upgrading, redesigning and installing Video AI applications.
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 seasoned deep-tech investors from Inflexor and Exfinity, Awiros will benefit heavily from their extensive experience in technology, international business, and scalable GTM.”
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Awiros’s clientele includes several companies from Fortune 500, the startup said in a release, adding that customers are using large-scale video AI deployments across manufacturing, warehousing, data centres, critical infrastructure and public safety.
Chinnu Senthilkumar, Managing Partner at Exfinity Venture Partners, said, “In the backdrop of data explosion happening in the video domain, we are thrilled to join Awiros journey in building a unified video intelligence platform that derives actionable insights for its customers. Awiros’ approach is analogous to Android O/S, which enables and empowers the customer to design and deploy AI-based solutions for their business needs quickly.
“We are excited to partner with Vikram, Yatin and the team at Awiros as they take their patented AI-based computer vision operating system and app store to global markets and continue to grow in the domestic market. As cameras become even more ubiquitous globally there will be a huge addressable market for their products,” said Jatin Desai, managing partner at Inflexor Ventures.
In India, there are currently around 3,000 deep-tech startups operating in areas such as AI, internet of things (IoT), blockchain, big data and analytics, according to a Nasscom report. About 270 such startups have received investment, having raised close to $2.7 billion collectively across 319 deals, the report noted.
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