Plutomen Raises $300,000 Funding
The funding will be deployed to build the sales and marketing team, and also to extend the product team
Ahmedabad-based augmented reality (AR)-based self-assistance and remote collaboration platform Plutomen announced that it raised funding of $300,000 from GUSEC Seed Fund, DeVX Venture Fund, and tech-focused HNIs. The funding is a mix of equity and CCD.
The funding will be deployed to build the sales and marketing team and also to extend the product team.
"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 and field service teams to remotely troubleshoot, inspect, maintain complicated machinery and systems. The Funding enables us to further grow and develop the product with a broader scope of applications," said Keyur Bhalavat, founder, Plutomen.
With the experience of more than 7 years in XR– AR/VR/MR and servicing and consulting Industrial Enterprises, Plutomen decided to work on creating solutions that empower enterprises to improve productivity, extend workforce capability, and enhance customer satisfaction.
"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 issues 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," remarked Rahul Bhagchandani, group chief executive officer, GUSEC.
Plutomen foresaw the increase in the use cases of AR and MR-based remote collaboration. Their enterprise SaaS platform ARMS allows AR/MR-based remote intervention in real-time. The solution is built with MRO and front-line workers as centre point. It is focused on OEMs and utility-driven industries like heavy engineering, manufacturing, automotive, telecom, oil and gas, power and renewables, etc. The ARMS platform enables remote intervention for maintenance, inspection, problem identification, troubleshooting, on-the-job training, etc.
"We have known Plutomen as a co-worker company that made its way to JioGenNext Accelerator. We trust the capabilities of Keyur Bhalavat, founder and chief executive officer, 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," added Umesh Uttamchandani, co-founder, DevX.
The company is backed by JioGennext, GUSEC, and Nasscom CoE, Gandhinagar.