SwitchOn, a Bengaluru, India-based vision AI startup that provides an AI-powered vision system for manufacturing, secured $4.2 million in Series A funding.
The round was led by a Singapore-based fund, Axilor Ventures, Pi Ventures, and prominent angels such as Anuj Bihani, Laxmi Narayan, and others.
The investment aims to fuel SwitchOn's growth in India, expand its international presence with large enterprises, facilitate key hires in sales and technology, and support research and development efforts.
The startup also aims to invest in research and development, driving innovation and advancements in the field of AI-based quality inspection. In addition, SwitchOn plans to make strategic hires in sales and technology, strengthening its team to support its growth trajectory and enhance customer relationships.
SwitchOn's flagship product, reportedly manufacturers to swiftly identify complex surface defects with remarkable accuracy, boasting a success rate of over 99 percent that surpasses human capabilities.
The platform's rapid setup requires less than 200 good images to train AI models, allowing manufacturers to automate their quality inspection processes and deploy hundreds of SKUs (stock-keeping units).
Company: Abee Research Labs Private Limited
Raised: $4.2M
Round: Series A
Funding Month: April 2023
Lead Investors: Axilor Ventures, Pi Ventures, Anuj Bihani, and Laxmi Narayan
Additional Investors:
Company Website: https://switchon.io/
Software Category: AI-powered Vision System
About the Company: Founded in 2017 by Aniruddha Banerjee and Avra Banerjee, SwitchOn is an industrial tech company that uses AI to help precision manufacturing companies reduce manufacturing failures. The company helps precision manufacturing industries drastically reduce their manufacturing defects through a field-trainable AI system. The company's DeepInspect system can be trained by the quality inspectors on the field to inspect complex surface defects and eliminate customer complaints through AI-on-the-Edge. The company’s AI system is being used by some of the leading manufacturers, including Unilever, ITC, SKF, and others, to train deep-learning quality control models within hours.
Source: https://startup.outlookindia.com/sector/saas/switchon-raises-4-2-million-in-series-a-funding-round-led-by-axilor-ventures-news-8115