Brihaspathi Technologies Limited, a city-based AI surveillance and security solutions provider, has raised $10 million in funding from foreign institutional investors (FIIs) and others. The company said it would use the proceeds to expand its operations, including setting up a CCTV manufacturing facility in the city. The 72,000-sft facility will be operational by the end of the current financial year.
The company is also planning to go for an Initial Public Offering (IPO) in the next financial year. The funds would be used to strengthen its research and development (R&D) capabilities, expand manufacturing capacity, and advance AI-driven solutions, Rajasekhar Papolu, Managing Director, Brihaspathi Technologies Limited, said here in a statement on Thursday.
He said the company bagged a Maharashtra State Road Transport Corporation (MSRTC) project to deploy an AI-enabled CCTV monitoring system across the Corporation’s network.
“We have so far deployed over 1.2 million CCTV cameras in different parts of the country,” he said.
“India’s CCTV and surveillance sector is witnessing rapid growth, driven by heightened government focus on internal security, smart city initiatives, and increased demand for institutional monitoring,” he said.