News on Medial

BYTES secures funding from Nikhil Kamath’s WTFund

Entrackr · 3d

Snippets BYTES secures funding from Nikhil Kamath’s WTFund BYTES, an AI-powered ADAS for two-wheeler mobility, has emerged from stealth mode and secured funding from Nikhil Kamath’s WTFund as part of its second cohort for 2024. The company has secured a ₹20 lakh non-dilutive grant to accelerate its aim of enhancing road safety through cutting-edge AI and computer vision technology. The fresh funds will be used to launch pilot programs with leading two-wheeler OEMs, integrating its AI safety system into real-world use cases, BYTES said in a press release. Launched in August 2024 by Prakhar Agrawal and Aayush Kumar, BYTES builds an AI-powered Advanced Driver Assistance System (ADAS) for two-wheeler mobility. Their proprietary vision technology and advanced AI models provide real-time alerts and can take partial control in critical moments, helping riders avoid accidents. According to the Bengaluru based company, it has recently launched an advanced driver assistance system (ADAS) for two-wheelers. The company is backed by WTFund, IIMB’s NSRCEL (an incubator for startups and entrepreneurs), NVIDIA’s Inception Program for Startups, Microsoft for Startups, and the Wadhwani Foundation. As per market research, every year, over 50 million road accidents occur globally, with two-wheelers accounting for 60% of them. Human error contributes to 90% of these crashes, and the absence of robust safety features increases the risk of fatality by 40%. BYTES aspires to create a future where no two-wheeler accident results in a preventable loss of life. The company focuses on bridging the safety gap for two-wheelers with a scalable, technology-first approach. WTFund provides up to Rs 20 lakh in grant funding, along with mentorship and strategic partnerships, to help startups scale their impact.