Spector.ai Raises $6.7 Mn To Scale Its Industrial AI Offerings

AI startup Spector.ai has raised INR 58 Cr ($6.7 Mn) in a funding round led by IvyCap Ventures. The startup plans to utilise the fresh capital to accelerate product development and scale its enterprise deployments across global markets. 

Founded in 2024 by ex-GoDaddy VP Prashant Nedungadi and InteligenAI CEO Sukrit Goel, Spector.ai develops AI agents that help heavy industries prevent equipment failures, improve uptime and optimise operations. 

These agents integrate live asset data from multiple sources to create a comprehensive Asset Health Knowledge Graph, enabling predictive maintenance, diagnostics, and actionable insights for industrial equipment.

The startup’s platform uses AI to analyse time-series, visual, and other operational data to churn out real-time recommendations that can help businesses prevent equipment failures while simultaneously optimising their maintenance schedules.

It focuses on companies in asset-intensive industries like oil and gas, chemicals, manufacturing, utilities, and the automotive industry. 

The California-headquartered startup addresses a fundamental industrial blind spot: critical equipment failure management. Traditional methods often see companies use siloed data, manual inspections, and rule-based systems, leading to missed early warning signs. This leads to unplanned shutdowns, safety risks, and millions of dollars in lost production, despite companies generating vast volumes of asset data.

Spector.ai claims that average annual losses per plant globally stand at $129 Mn due to an average 300 hour downtime recorded per year. It says that its solutions can help businesses achieve an over 95% reduction in downtime and save up to 20% in maintenance costs. 

“The problem we are addressing is complex, but the opportunity is massive… The capital will help us scale globally and deliver measurable improvements in uptime, safety, efficiency, and asset performance,” Nedungadi said. 

Notably, Nedungadi had earlier cofounded two ventures, NimbleCommerce and Andale Inc, in the ecommerce solutions space. He has also been associated with investor IvyCap Ventures as a board member since 2015. 

The investment bagged by Spector.ai adds on to the deepening investor interest in Indian agentic AI startups. As per Inc42’s Annual Indian Startup Trends Report 2025, Indian native AI startups have raised over $1.8 Bn over the past decade. In this, nearly 80% ($1.6 Bn) capital has flown into application-layer focussed ventures.

Moving forward, interest in AI is only expected to grow further as a good chunk of the over 90 new VC funds announced in 2025 carry explicit mandates for such investment. While investments in the space are expected to pick pace, there is an underlying silver lining that might shape the Indian AI ecosystem moving forward.

As per the report, the AI funding momentum is expected to concentrate into fewer companies with clear IP ownership, proprietary data, or infrastructure leverage. General-purpose application layers are expected to face longer diligence cycles and slower closes.