Ishitva, a waste sorting robotic startup has raised $1 million in pre-series A funding round led by Inflection Point Ventures (IPV). Ishitva is an OEM operating in dry waste sorting technology using AI, ML, IoT industry 4.0 to solve the issue of sorting complex waste. The funds raised will be used for growing sales and expanding the R&D team.
Many waste management and plastic value chain players and veterans also participated in the round, including Kamaljyot Investments (subsidiary of Excel Industries Ltd), Gandhi Family from GRP, AVI Global Plast Private Limited, Anup Gulati COO at Quality Maritime Provider, Harinder Arya president & div CEO – Major Capex & Pressure Control at Joulon, Sanjay Kamlani, serial investor and founder of Pangea3 and Mohan Ayyangar, operations lead – GDS EY India.
“The Indian waste management industry is a riddle and our unlimited dream is to eliminate the manual sorting of waste which often involves humans to work in unhygienic conditions. Our vision is to install industry 4.0 solutions using using AI, ML, IoT technology in over 4000 towns of the country picked up by the Swachh Bharat mission and we are thrilled to have IPV as a part of this journey,” said Jitesh Dadlani, founder of Ishitva.
Ishitva currently offers a range of solutions including SUKA (AI powered air sorting), YUTA (AI powered robotic sorting) and Netra AI vision system, which helps in identifying waste and smart bins. Netra identifies waste, learns about its contents by capturing images and then scans for recyclable material.
“According to the ministry of housing and urban affairs, as of January 2020, India generated 1,47,613 million tons of solid waste. This is a serious situation that our country is headed to and we are seeing startups taking on this challenge to address the waste generated in the country. Ishitva’s model is particularly innovative as they are leveraging cutting-edge technology to sort out the waste which is already being generated,” Mitesh Shah, Co-founder, Inflection Point Ventures.
Last month, Inflection Point Ventures had backed four of the early-stage startups which include Shadez, a home interiors startup, Mentza, an audio-based conversational learning startup, NeuroPixel.AI, a deep-tech SaaS startup, and Mindler, a career guidance startup.
Also, Read This: CredAvenue Bags USD 90 million In a Round Led By Sequoia Capital