[Funding alert] AR startup Plutomen raises $300k from GUSEC Seed Fund, DeVX Venture Fund, and HNIs

AR startup Plutomen will use the funding to build the sales and marketing team, and extend the product team.
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Ahmedabad-based Plutomen, an Augmented Reality (AR) based self-assistance and remote collaboration platform, on Wednesday announced that it has raised funding of $ 300,000 from GUSEC Seed Fund, DeVX Venture Fund, and industry-tech-focused HNIs. The funding is a mix of equity and CCD(compulsory convertible debenture).

The funding will be deployed to build the sales and marketing team and also to extend the product team.

Speaking on the funding, Keyur Bhalavat, Founder and CEO at Plutomen, said,

“We are excited about the funding and will deploy it to further augment our sales, marketing and product teams. The product, Plutomen ARMS, is an XR (extended reality) enabled self-assistance and remote collaboration solution that empowers enterprises and their MRO. "

"It allows field service teams to remotely troubleshoot, inspect, maintain complicated machineries, and systems. The funding enables us to further grow and develop the product with a broader scope of applications,” he added.

Backed by JioGennext, GUSEC & Nasscom CoE, Gandhinagar, Plutomen is founded by Keyur Bhalavat (CEO), Ravi Patel (CDO), and Hiren Kanani (CTO) in 2016.

Rahul Bhagchandani, Group CEO of GUSEC stated, “At GUSEC, we are excited to participate in this round of Plutomen's funding through DST's NIDHI SSS (Seed Support Scheme). The company and their founders' deep understanding and appreciation of the industry issuesm, coupled with phenomenal technology capability, are helping them offer XR solutions that are truly cutting-edge and will help Indian enterprises compete better on the global scene."

Putting this in perspective, Umesh Uttamchandani, Co-Founder DevX added, “We have known Plutomen as a co-worker company that made its way to JioGenNext Accelerator. We trust the capabilities of Keyur Bhalavat, Founder & CEO at Plutomen. His previous venture Oryden Techlabs was acquired by Square Yards. Plutomen has spent years developing their product and it's now their redemption time to rapidly scale riding on the back of their core product ARMS.”

Edited by Teja Lele Desai

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