Detect Technologies, a Chennai, India-based leading AI-based SaaS enterprise, announced that it raised $28 million in Series B funding.
Prosus Ventures led this round with significant participation from existing investors Accel and Elevation Capital and continued support from other existing investors—Shell Ventures, Bharat Innovation Fund, and Bluehill Capital.
The company will utilize this capital to further expand and strengthen its sales and operations across international markets in North America and Europe. Operating in the fast-evolving space of AI, the company has also allocated funds for enriching its product suite.
Company: Detect Technologies Pvt Ltd.
Raised: $28.0M
Round: Series B
Funding Month: July 2022
Lead Investors: Prosus Ventures
Additional Investors: Accel, Elevation Capital, Shell Ventures, Bharat Innovation Fund, and Bluehill Capital
Company Website: https://detecttechnologies.com/
Software Category: Industrial AI
About the Company: Founded in 2016, Detect Technologies is a leading Industrial AI company that is building innovative solutions and cutting-edge technology for the industrial ecosystem. Detect Technologies provides cloud-based applications to industries to automate and enhance the visibility of industrial risks and improve productivity. Detect Technologies meets the highest industry standards of safety and compliance and builds solutions for various asset-intensive industries like oil and gas, petrochemicals, power, fertilizers, metals, pharmaceuticals, renewables, and more. Detect’s mission is to re-engineer and automate industrial processes, deliver maximum and sustained industrial productivity, and accelerate the path to industry 4.0. Detect Technologies is trusted by some of the biggest enterprises like Shell, ExxonMobil, Adani Group, Reliance Industries, Vedanta, Aditya Birla Group, GAIL, LOTTE, Hindustan Petroleum, Indian Oil, Cipla, and many more. Visit our website to see our unique suite of industrial solutions.
Source: https://detecttechnologies.com/blog/industrial-ai-enterprise-detect-technologies-raises-28mn-in-series-b-funding-led-by-prosus-ventures/