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Awiros, a deep-tech start-up, has raised $7 million in a Series A funding round led by Inflexor and Exfinity Venture Partners.
The funding also saw participation from VedaVC, family offices, and ultra-high-net-worth individuals (UHNI). Awiros develops an AI-based computer-vision platform primarily for video processing.
The company wants to use the fund for product enhancement, building its developer community, and growth in the Indian and overseas markets. It will augment its India and US teams, both in technology- and sales-related functions, it said in a press release.
Vikram Gupta, CEO and Co-Founder of Awiros, said, “Awiros is one of the fastest growing companies in the video AI space in India and 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.”
Awiros aims to be the default platform for computer vision use cases, allowing any developer to create and deploy computer vision applications in large-scale projects, and create an ecosystem that allows the best apps to thrive, much like the app stores for smartphones.
Enterprises have been deploying video AI solutions across automation, safety, and process monitoring, with the market projected to reach $27 billion by 2030, the company said.
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