SUMMARY
Veda VC, family offices and ultra-high-net-worth individuals (UHNIs) have also participated in the funding round
Awiros will utilise the funding for product enhancement, building developer community, and expanding its footprint across India as well as international markets
Awiros said that the platform removes time-consuming workflow around computer vision-based AI devices thereby, helping developers to focus on creating efficient models
Deeptech startup Awiros has secured $7 Mn Series A funding led by Inflexor Ventures and Exfinity Venture Partners.
Veda VC, family offices and ultra-high-net-worth individuals (UHNIs) have also participated in the funding round.
Awiros will utilise the funding for product enhancement, building developer community, and expanding its footprint across India as well as international markets. Besides, the startup will deploy funds to hire talent for its tech and sales teams.
“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.
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 organisations from manually upgrading, redesigning and installing Video AI applications.
“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,” Gupta said.
The two founders hold years of experience in computer engineering and building enterprise software. Gupta earned a PhD from Carnegie Mellon University. During his PhD, he focused on building embedded systems of multiple apps. On the other hand, Kavishwar is a veteran enterprise business leader who has formerly worked with AppDynamics, Citrix, Cisco and IBM.
Awiros said that the platform removes time-consuming workflows around computer vision-based AI devices thereby, helping developers to focus on creating efficient models.
Awiros also informed that it aims to become a default platform for computer vision AI-based devices and also, wants to build an ecosystem where apps can thrive.
In the AI space, it faces competition from the likes of Navikenz and Qure.ai, among others.
According to a report, the global AI market, which was valued at $93.5 Bn in 2021, is likely to touch the $1,811.8 Bn mark by 2030. The industry is going to expand at a CAGR of 38.1% during 2022 and 2030.
