Awiros Raises $7 Million in a Series A Funding Round Led by Inflexor Ventures and Exfinity Venture Partners Funds will be utilized to enhance the product, build its developer community and for business growth in India and overseas markets
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Awiros on Wednesday announced to have raised $7 million in a Series A round led by Inflexor Ventures and Exfinity Venture Partners. The round of funding also witnessed participation from VedaVC, leading family offices and UHNIs. Funds will be utilized to enhance the product, build its developer community and for business growth in India and overseas markets. The funding round will allow Awiros in augmenting the India and US teams, both in technology and sales-related functions.
"Awiros is one of the fastest growing companies in the Video AI space in India and this funding round will help us build further momentum for global growth by increasing our market share, streamlining technical operations and investing in the R&D of existing and new product categories," said Vikram Gupta, CEO and co-founder, Awiros.
Awiros is a device-agnostic Operating System (OS) for easy development and delivery of Video AI applications. The OS eliminates the need for enterprise clients to upgrade, redesign, or reinstall new systems as the enterprise's Video AI use cases increase. Enterprises have been actively deploying Video AI solutions across automation, safety and process monitoring where the market is projected to reach $27 billion by 2030, based on various research studies, according to a statement given by the company.
"Awiros' approach is analogous to Android O/S which enables and empowers the customer to design and deploy AI-based solutions for their business needs quickly. Awiros has excellent business synergy with our portfolio company Kinara (erstwhile Deepvision) wherein they will be able to co-develop solutions in domains such as retail automation, smart buildings, Industry 4.0 etc. for Fortune 500 clients," said Chinnu Senthilkumar, managing partner, Exfinity Venture Partners.
"We are very excited to partner with Vikram, Yatin and the team at Awiros as they take their patented deeptech/AI-based Computer Vision operating system and app store to global markets and continue to grow in the domestic market. As cameras become even more ubiquitous globally there will be a huge addressable market for their products. Awiros investment fits very well with Inflexor's deeptech/tech IP theme and backing solid founders in this space," said Jatin Desai, managing partner, Inflexor Ventures.
Founded in 2015 by Vikram Gupta and Yatin Kavishwar, Awiros is bridging a key gap in the market through its offering, a marketplace of Video AI "Apps" that allows its customers to discover and adopt suitable technology solutions quickly. Awiros is accelerating the adoption of this technology, where its average customer subscribes to more than 10 apps today, up from four in 2019. With several Fortune 500 customers and large-scale Video AI deployments across manufacturing, warehousing, data centres, critical infrastructure and public safety, Awiros is already one of the leading companies in the space in India. The platform also abstracts out all the tedious workflow around computer vision-based AI models and lets developers concentrate on building efficient models, resulting in faster development and deployment cycles for enterprise-grade applications. Awiros aims to be the default platform for computer vision use-cases that would allow any developer to create and deploy computer vision applications in large-scale projects in a frictionless manner and create an ecosystem that allows the best apps to thrive, much like the app stores for smartphones.
