Staqu Raises INR 11 Crore In Pre-Series A Funding, Led By Mount Judi Ventures And SIS The fresh fund will be used to fulfill the current demand for the JARVIS, an AI-based technology
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Staqu, an audio-video analytics and management company, has raised INR 11 crore in pre-Series A funding round, led by Mount Judi Venture and SIS limited. The round also witnessed the participation of Indian Angel Network (IAN). The fresh fund will be utilised to fulfill the current demand for the innovative AI-based audio-video analytics technology JARVIS (Just A Really Very Intelligent System) in the international and domestic markets.
"Staqu has been committed in bringing about a revolution across industries using its proprietary AI technology JARVIS. The latest funding will allow us to cater the rising demand and scale of our business," said Atul Rai, co-founder and CEO, Staqu.
Staqu presently works with more than 100 enterprises and 9 state governments. Some of the clientele includes Rebel Food, JK Cement, Tata Projects, Tata Consumer and many more including the governments of Uttar Pradesh, Bihar, Rajasthan, Punjab, Chattisgarh, Haryana, Uttarakhand and so on, claimed the company in a statement.
"We are happy that in this funding round, Staqu was able to attract a strong strategic investor. Together, we look to fuel its growth across and beyond India," said Sherif Kottapurath, partner of MJV and ex-CTO of Sun Microsystems.
Founded in 2015, Staqu is an AI startup in which its AI technology works on existing cameras to automate the monitoring of people, process and property. The vision of the company is to create an AI enabled society where businesses rely more on human intelligence to bring in innovation while ensuring complete automation across their business units.
According to the reports, India's Artificial Intelligence market is estimated to reach $7.8 billion by 2025.