Info-tech

Invento Makerspaces receives seed funding of Rs 2 crore

Our Bureau Mumbai | Updated on January 20, 2020 Published on January 20, 2020

Pune-based venture capital firm, Windrose Capital, and Mumbai-based ITI Growth Fund have invested Rs 2 crore in Invento Makerspaces.

Invento Makerspaces is the maker of Mitra robot and this infusion was a seed round of funding. Invento Makerspaces was founded by Balaji Viswanathan and 2 others in Bangalore. Mitra Robot is deployed in companies such as HDFC, Accenture, Suzuki, Morris Garages, General Motors, Zomato, PVR and others.

The company is planning to use the funded amount for Research & Development (R&D) in building and innovating new robot variants, expand into new industries & verticals. Mitra is capable of autonomous movement and obstacle detection, along with speech understanding in Asian languages like Hindi, Tamil, and Sinhalese. The company is looking to launch subsequent variants of robots for applications in different industries and operating verticals.

Co-founder Balaji Viswanathan said that even in the initiative conversations, the investors showed a deeper understanding of our business and were providing specific recommendations on scaling up.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on January 20, 2020
This article is closed for comments.
Please Email the Editor