e-con Systems Secures INR 100 Crore In Funding The funding will be utilized for e-con System's growth plans, including investment in building contemporary and state-of-the-art facilities for imaging, autonomous mobile robots, autonomous shopping, and cellular and molecular imaging core laboratory
By Teena Jose
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e-con Systems, a leading Make in India embedded vision products and solutions company, has announced securing more than INR 100 crore in funding for expanding its operations in the US and other countries. The investment comes from GR 2022 Holdings Inc, headed by Radhakrishnan Gurusamy. Also, EY acted as the exclusive advisor for e-con Systems on the transaction. The funding will be utilized for e-con System's growth plans, including investment in building contemporary and state-of-the-art facilities for imaging, autonomous mobile robots, autonomous shopping, and cellular and molecular imaging core laboratory.
"We are pleased to announce our recent funding from GR 2022 Holdings Inc, which will significantly enhance our growth trajectory and bolster our ability to drive innovation in the embedded vision market. We are committed to harnessing the power of cutting-edge technology to enable machines to perceive and comprehend the world around them. With the support of our talented team of engineers and our unwavering commitment to excellence, we are confident in our ability to maintain our position as a leading global provider of embedded vision products and solutions," said Ashok Babu Kunjukkannan, co-founder and president, e-con Systems.
The company aims to consolidate its position as a world leader in embedded vision products and solutions and increase its revenue threefold in the next four years. The funding will help the company to speed up and boost its growth in the embedded vision market, according to an official statement by the company.
"e-con Systems is a company with an amazing team of engineers and products that are used by leading companies worldwide. The company has a strong culture of innovation that has enabled them to be at the forefront of the latest cutting-edge technology. Market tailwinds supporting the applications of AI and automation to hardware products and rapid growth of embedded vision, e-con Systems is well poised for exponential growth in the coming future," said Radhakrishnan Gurusamy, GR 2022 Holdings Inc.
