Adage Automation raises Rs 230 Cr to accelerate AI-led industrial expansion

Adage Automation, an industrial technology company specialising in gas analytics and environmental monitoring systems, has raised Rs 230 crore in a growth funding round led by InCred Growth Partners Fund, the private equity platform of InCred Alternative Investments.

InCred invested Rs 180 crore in the round, while Global South Capital, a private equity fund focused on industrial and manufacturing businesses, and growth investor Prachetas Capital also participated.

The fresh capital will be used to expand the company’s AI-enabled industrial software, digital monitoring platforms, engineering capabilities and manufacturing infrastructure.

Adage also plans to strengthen its international presence across the Middle East, Africa, Europe and the United States while exploring inorganic growth opportunities through acquisitions.

“Leveraging our extensive global network and operational capabilities, we will support the company’s inorganic growth,” said Mragank Jain, managing partner, Global South Capital.

Founded in 2001, Adage Automation develops advanced gas analyser systems that help industries monitor industrial processes and emissions. Its products are used across sectors including oil and gas, steel, cement, chemicals and power, where continuous monitoring improves plant efficiency while helping companies comply with environmental regulations.

The company also provides continuous emission monitoring systems (CEMS), which continuously measure industrial emissions, and ambient air quality monitoring systems that track pollution levels around industrial facilities.

The investors believe the company is well positioned to benefit from long-term structural trends.

“Adage combines deep engineering expertise, market leadership and strong structural tailwinds driven by industrial automation and environmental monitoring. Its differentiated capabilities, trusted customer relationships and global OEM partnerships position the Company to build a leading industrial technology platform,” said Vivek Singla, managing partner and chief information officer, InCred Alternative Investments.

The investment comes as industrial manufacturers increasingly adopt digital technologies to improve efficiency, reduce downtime and meet stricter environmental standards. AI-based predictive maintenance, which analyses equipment data to detect faults before they lead to failures, has become a growing priority for heavy industries seeking to improve reliability while lowering operating costs.

Governments and regulators are also placing greater emphasis on emissions monitoring, creating sustained demand for advanced gas analysis and environmental compliance solutions.

India’s industrial technology ecosystem has also seen continued investor interest as manufacturers pursue automation and digital transformation. Private equity investors have increasingly backed companies building specialised industrial technology platforms with export potential, particularly those serving global energy, manufacturing and infrastructure markets.

Adage Automation managing director and chief executive officer Abhijit Chatterjee believes that the investment will enable the firm to accelerate its global expansion, invest further in AI-powered digital technologies and advanced analytical solutions and strengthen its position in the world’s leading energy, petrochemical and process industries.