AI Solution Company Cognecto Raises INR 4 Crore In Seed Funding The funds will be used to develop Regenerative Artificial Intelligence technology that is aimed at providing valuable business and operational insights for the mining and construction sectors
By Teena Jose •
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AI Solution Cognecto raised INR 4 crore in a Seed Round led by Inflection Point Ventures. The funds will be used to develop Regenerative artificial intelligence technology that is aimed at providing valuable business and operational insights for the mining and construction sectors. This will involve integrating data from existing and highly distributed telematics systems, along with operator inputs through mobile apps and wearable devices, and combining AI to drive smart allocation, routing, and operational and maintenance effectiveness.
"I am thrilled to have IPV Ventures as a partner in our journey to revolutionize the mining industry through cutting-edge technology. Their vast experience and guidance have been invaluable in raising this seed round, and we look forward to a successful collaboration. With this funding, we are excited to accelerate the development of our product and bring real-time data analytics to the forefront of mining and construction operations," said Rohet Sareen, head of business development, Cognecto.
Cognecto has a global presence on four continents Asia, Europe, Australia, and Africa serves several heavy industries, including mining, aluminum, highways, and logistics. They also connect frontline workers and equipment on a unified platform to provide a comprehensive view of mining and construction operations, enabling businesses to generate valuable analytics. The platform also offers industry-specific key performance indicators (KPIs) and specialized expertise, according to an official statement by the company.
"The utilization of AI technology in the mining and construction sector is a significant advantage. These industries require real-time data to optimize time and resources effectively. Cognecto, with its state-of-the-art technology, offers solutions for infrastructural development, making it easier for even the most complex workforce to improve productivity on a large scale. IPV has always been at the forefront of extending support to innovative ideas that enhance productivity and optimize resources to their fullest potential," said Vikram Ramasubramanian, partner, Inflection Point Ventures.
