Awiros, a deep-tech startup that develops an AI-based computer vision platform primarily for video processing, has secured US$7 million in an equity financing round led by Inflexor Ventures and Exfinity Venture Partners.
VedaVC, leading family offices and UHNIs also joined the round.
The company will utilise the funding for product enhancement, building its developer community, and business growth in India and overseas markets.
It will also allow Awiros to augment the India and US teams.
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.
Founded in 2015 by Vikram Gupta and Yatin Kavishwar, Awiros offers a marketplace of video AI apps that allows its customers to discover and adopt suitable technology solutions quickly. It is accelerating the adoption of this technology, where its average customer subscribes to more than 10 apps today, up from four in 2019.
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.
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.
The firm claims it has several Fortune 500 customers and large-scale Video AI deployments across manufacturing, warehousing, data centres, critical infrastructure and public safety.
Shortly, 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 friction-less manner and create an ecosystem that allows the best apps to thrive, much like the app-stores for smartphones.
Jatin Desai, Managing Partner at Inflexor Ventures added, “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”.
Chinnu Senthilkumar, Managing Partner at Exfinity Venture Partners added, “Awiros’s 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.”