[Funding alert] Chennai-based Jidoka Technologies raises $340K in seed round
Jidoka Technologies, a Chennai-based startup operating in the field of automated cognitive inspection for manufacturing, has recently received a seed funding of $340,000 from a technology entrepreneur.
The startup says that the funding will be invested to scale up operations and for expansion into new markets of North America and Southeast Asia. Having established its efficacy with some leading automobile brands, Jidoka Technologies claims that it is already expanding its scope to pharma, general manufacturing, electronics, and printing, among other industry verticals.
“This funding has come to us at the time when there is an increasing demand for automated QC solutions to drive speed and efficiency in manufacturing and will support us to scale our business, expand our reach outside of India, accelerate growth and enhance our innovation capabilities,” said Sekar Udayamurthy, CEO and Co-founder, Jidoka Technologies.
Founded in 2018, Jidoka Technologies delivers cutting-edge engineering solutions to automate the process of visual quality checks at high speed by leveraging deep learning, AI/ML, and analytics. The startup says its state-of-the-art automated cognitive QC solution enhances the quality and efficiency of QC in the manufacturing process. It harnesses and mirrors human reasoning in defect detection, consistently delivering 98 percent or higher accuracy in the QC process and a significant increase in throughput, besides reducing wastage by 30 percent.
“Our state-of-the-art QC solution will increase the efficiency of the manufacturing processes. Our focus is to revolutionise the QC process in manufacturing by leveraging deep tech, for both Indian and International markets," added Sekar.
Currently valued at $3 million, Jidoka Technologies’ areas of expertise in deeptech include data augmentation, AI/deep learning, Machine Vision, real-time QC, online/standalone automation, high-speed monitoring, and data analytics with customised user experience. It aims to expand its services across global markets of UK, Europe and Australia, besides serving across the Indian sub-continent, North America, and South East Asia by 2025.