Intangles Lab Raises $10 Million In Funds From Baring Private Equity
Predictive analytics solutions provider Intangles Lab on Tuesday said it has raised USD 10 million in funding from Baring Private Equity Partners India for expanding its global presence and accelerate hiring.
In the coming years, Intangles is looking to vigorously revamp the electric vehicle segment using its extensive ambient cognitive AI technology, it said.
Founded in 2016, Pune-based 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 original equipment makers and fleet operators.
Intangles Lab Pvt Ltd has successfully raised USD 10-million in Series A funding from Baring Private Equity Partners India. The proceeds will be used to serve a robust new customer pipeline, expand its global presence and accelerate hiring to strengthen its product engineering, sales and delivery teams, it said.
We are focused on growing our presence across the entire commercial vehicle segment across the globe. In the coming years, we are aiming to vigorously revamp the EV segment using our extensive Ambient Cognitive AI technology, said Anup Patil, Co-founder and CEO, Intangles.
In the direct market, the company is witnessing growth pan-India and are in the process of onboarding multiple large commercial vehicle OEMs, he added.
EY acted as the exclusive financial adviser to the company on this fundraising transaction, the company said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Transforming Financial Operations With Robotic Process Automation
Author: Ricardo Goulart ... Read more
The Role Of Machine Learning In Fraud Detection
Author: Gerardine Lucero  ... Read more
Principles Of Islamic Banking And Finance
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more
The Role Of Central Banks In Global Economy
The role of central banks in global economy is a stimulating topic that requires profound understanding. Commonly, centr... Read more
History Of Banking Evolution In The 21st Century
Throughout time, the banking sector has assumed a central role in the smooth functioning of economies, generating growth... Read more