Digital twin startup Intangles raises $10M in Series A round
Intangles will use the proceeds to serve a new customer pipeline, expand its global presence, and accelerate hiring to strengthen its product engineering, sales, and delivery teams.
Digital Twin solutions provider has raised $10 million in a Series A round from Baring Private Equity Partners India.
The startup will use the proceeds to serve a new customer pipeline, expand its global presence, and accelerate hiring to strengthen its product engineering, sales, and delivery teams, it said in a press release.
Intangles said it is one of the only players globally to have a full stack presence across patented algorithms, advanced hardware devices, and a cloud-based data analytics platform—all developed in-house.
“We are focused on growing our presence across the entire commercial vehicle segment across the globe. In the coming years, we are aiming to vigorously revamp the electric vehicle segment using our extensive Ambient Cognitive AI technology," said Anup Patil, Co-founder and CEO of Intangles.
"In the direct market, we are witnessing impressive growth pan-India and are in the process of onboarding multiple large commercial vehicle OEMs,” he added.
Founded in 2016 by Anup Patil (CEO), Neil Unadkat (CTO), Aman Singh (Head of Analytics), and Jayshri Patil (Head of Embedded Systems), Intangles says it has developed substantial in-house IP by leveraging its proprietary digital twin and machine learning paradigms to provide predictive vehicle health monitoring solutions to OEMs and fleet operators.
“Intangles is a leader in digital twin technology, enabling efficiencies in automotive and industrial applications. Integrating deep competency in artificial intelligence, predictive analytics, edge computing, and communication technologies has allowed it to build its state-of-the-art product suite. After getting strong traction in the Indian market, it is venturing into Western markets,” said Rahul Bhasin, Managing Partner, Baring India.
E&Y acted as the exclusive financial adviser to the company on this fundraising transaction.
Edited by Affirunisa Kankudti