Pune-based image analysis startup ImageProVision Technology has raised an undisclosed amount of funding from angel investor Satish Jamdar, former managing director of Blue Star.
Anup Patil of Arthsutra Capital advised the companies on the transaction.
ImageProVision Technology was founded in 2010 by Sandeep Kulkarni and Prithviraj Jadhav. The commpany focuses on processing and detail analysis of images, along with the development of image processing applications. The company makes products that enable companies to extract and analyse data drawn from images. It works with various kinds of images, from nano to satellite images, and has a dominant position in microscopic image analysis.
ImageProVision claims that its products cater to a wide range of industries including pharmaceuticals, agriculture, medical sciences, life sciences, and chemical and manufacturing industries. It counts pharmaceutical companies such as Lupin, Dr Reddy’s and Glenmark among its clientele. The company also render precision services toward video processing, 3D imaging and industrial vision processing.
Sandeep Kulkarni, Partner & Director at ImageProVision Technology, said, “The company has been profitable from the start, and has been growing at a healthy rate in the last two years. In the last year, our revenue has increased three times and we continue to remain profitable.”
ImageProVision plans to use the funds raised towards further strengthening their presence within the pharma sector and tapping into more clients, as well as entering other sectors like biotechnology and medical imaging.
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