Predictive AI firm Intangles grabs $30M funding led by Avataar Venture Partners

Predictive AI firm Intangles on Tuesday said it raised $30 million in a Series B funding round led by growth-stage venture capital fund Avataar Venture Partners, with follow-on investments from Baring India Private Equity and Cactus Partners.

Founded in 2016 by Anup Patil, Neil Unadkat, Jayshri Patil, and Aman Singh, Intangles specialises in artificial intelligence (AI)-powered predictive analytics for fleet management. Using Internet of Things, AI, and digital twin technology, the startup helps vehicle original equipment manufacturers (OEMs) and fleet operators with proactive vehicle health monitoring and maintenance.

The Pune startup, which operates across North America, Europe, Southeast Asia, and the Middle East, managing over 400,000 vehicles across multiple industries, will use the fresh capital to drive global deployment of its predictive AI systems.

“Intangles targets the most critical and hard-to-solve problem of providing truly predictive maintenance for fleet owners through its AI platform. This is a global problem, and we have not seen any other players crack this problem the way Intangles has, which is reflected in the quality of the client logos we see in geographies such as North America and Europe,” said Anirudh Singh, Partner at Avataar Venture Partners.

Intangles has developed Inroute, an AI-driven vehicle platform powered by proprietary datasets and digital twin technology, which predicts specific vehicle failures up to a month in advance with about 95% accuracy, the startup claims.

Its SaaS model targets global markets in fleet telematics, predictive maintenance, and digital twin analytics across commercial, construction, and off-highway vehicles.

“What drew us to Intangles early on and keeps us deeply engaged is their instinct for solving real-world constraints at system scale,” said Anurag Goel, Co-founder and General Partner at Cactus Partners, adding that as industries face rising operational entropy, solutions like Intangles offer a new kind of control that is practical, predictive, and aligned with the pressures of today’s markets.

The AI-powered predictive analytics market for fleet management is experiencing significant growth, driven by the increasing need for operational efficiency, cost reduction, and compliance.

The major global players in this space range from large technology and telematics companies to specialised software providers. These include Geotab, Samsara, Motive, Trimble, Powerfleet, Uptake, and Fleetable.

The Pune-based startup raised $10 million in a Series A round from Baring Private Equity Partners India in February 2023.