Companies

Robotics start-up Ishitva raises over $1 mn in Pre-Series A led by Inflection Point Ventures

Our Bureau Mumbai | Updated on October 08, 2021

The funds raised will be utilised by the start-up in growing sales and expanding the R&D team.

Ahmedabad-based robotics start-up, Ishitva has raised a Pre-Series A round of over $1 million led by Inflection Point Ventures. Ishitva Robotic Systems (IRS) is an OEM operating in the space of dry waste sorting technology.

Many of waste management and plastic value chain players and veterans also participated in the funding round including Kamaljyot Investments Ltd (a subsidiary of Excel Industries Ltd), Gandhi Family from GRP Ltd, AVI Global Plast Private Limited, Anup Gulati COO at Quality Maritime Provider Lda., 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 funds raised will be utilised by the start-up in growing sales and expanding the R&D team. Founded in 2018, Ishitva uses technologies such as artificial intelligence, machine learning and IoT (Internet of Things), leveraging industry 4.0 tools to build efficient solutions which help in sorting complex waste, systematically sorting out waste and assess the quality of recyclable waste.

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Jitesh Dadlani, Founder of Ishitva, said, “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 unhygienic conditions. Our vision is to install industry 4.0 solutions in 4,000+ towns of the country picked up by Swachh Bharat mission and we are thrilled to have IPV as a part of this journey.”

Sandip Singh, CEO of Ishitva, said, “We are excited that many of the waste industry stalwarts are joining early in our journey. With IPV, we now have access to a large pool of professionals and experts which is immensely useful at this stage for us.”

The company currently offers a range of solutions including SUKA (AI-powered air sorting), YUTA, (AI-powered robotic sorting) and Netra AI Vision system which help in identifying waste and smart bins. The AI-powered Netra identifies the waste, learns about its contents by capturing images, and then scans for recyclable material.

Its AI-powered sorting solutions are already installed in commercial material recovery facilities and the company is advanced stage of talks with multiple MRF facilities as well as recyclers in the plastic value chain, it said.

Also read: PE-VC firms invest a record $49 bn in Indian companies during the first nine months of 2021

“According to MoHUA, as of January 2020, India generated 1,47,613 MT of solid waste. This is a serious situation that our country is headed to and we are seeing start-ups taking on this challenge to address the waste generated in the country,” said Mitesh Shah, Co-founder, Inflection Point Ventures.

“Ishitva’s model is particularly innovative as they are leveraging cutting-edge technology to sort out the waste which is already being generated. Sorting the waste is the first step to a meaningful recycling ecosystem. Ishitva’s business vision and our ESG goals are a seamless synergy which prompted us to invest in the company,” added Shah.

Published on October 08, 2021

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