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Deeptech IoT start-up Datoms raises $1.2 million led by Yournest VC

Business TodayBusiness Today · 1y ago
Deeptech IoT start-up Datoms raises $1.2 million led by Yournest VC
Medial

Indian industrial deeptech IoT start-up Datoms has raised $1.2 million in a pre-Series A funding round led by Yournest Venture Capital. The Bhubaneswar-based company has developed a connected operations cloud platform that consolidates people, processes, and machine operations. Datoms plans to use the funding to enhance its product offerings, strengthen AI/ML capabilities, and expand its market presence in India and the Middle East. The platform enables sectors such as construction, warehousing, agriculture, mining, and ports to achieve higher efficiency and automate processes. Datoms aims to disrupt the $600 billion global connected machine market and has already connected over 5,000 machines with clients including Mahindra & Mahindra and Tata Motors.

Presage Insights raises seed funding round

EntrackrEntrackr · 5m ago
Presage Insights raises seed funding round
Medial

Presage Insights, a provider of IoT and AI-based predictive maintenance, has raised Rs 5.6 crore in a seed funding round led by YourNest Venture Capital. It comes as part of the YourNest-SanchiConnect Velocity Program 2024. The fresh funds will be utilized to expand its market presence, scale operations, and accelerate innovation, Presage Insights said in a press release. Co-founded in 2021 by Aman Bhambra, Atul Sharma, and Kamalpreet Singh Sidhu, Presage Insights offers a comprehensive platform that combines advanced IoT sensors with a cloud-based software solution, enabling real-time monitoring of machine health. The platform leverages AI-driven diagnostics and delivers actionable insights to predict and prevent equipment failures. These solutions help manufacturers save up to $6,000 per machine annually, extend equipment lifespan, and bridge the skills gap in the industrial workforce. The Noida-based company aims to empower the industrial AI and IoT solutions landscape, helping manufacturers achieve higher efficiency, productivity, and sustainability. It focuses on minimizing machine breakdowns, enhancing predictive maintenance, and transforming manufacturing into an intelligent, automated ecosystem that maximizes value and minimizes waste. According to market research, the global predictive maintenance market is poised to grow from $7.5 billion in 2023 to $88.8 billion by 2032, with a CAGR of 31.6%. Presage Insights addresses the need for predictive, real-time solutions that help manufacturers reduce waste, optimize resources, and enhance productivity. The company says that its predictive maintenance solutions are already deployed across industries including FMCG, steel, cement, automotive, and process manufacturing, serving leading customers such as Adani, Abbott Healthcare, BPCL, and Kansai Nerolac. The company plans to introduce new hardware models tailored to industrial use cases and make forays into overseas markets such as the Middle East, South America, and South Asia.

ThinkMetal raises $800K in pre-Series A round

EntrackrEntrackr · 5m ago
ThinkMetal raises $800K in pre-Series A round
Medial

ThinkMetal raises $800K in pre-Series A round Deeptech startup ThinkMetal has raised $800,000 (about Rs 6.7 crore) in a pre-Series A funding round led by YourNest Venture Capital as part of the YourNest-SanchiConnect Velocity Program 2024, along with participation from Concept Communications and Sanchi Connect. Prior to this round, ThinkMetal raised $300,000 in a seed round led by 100X.VC, with participation from Concept Communications, SAT Industries, and investors such as KRS Jamwal and Uday Sodhi. The funds will be utilized to finalize production readiness, launch the first-generation product, enhance its software capabilities, refine its processes, and expand its team in key areas such as sales, operations, design, and software development, ThinkMetal said in a press release. Co-founded in 2021 by Sabyasachi Ghosh and Arushi Sharma, ThinkMetal is a deeptech startup enabling manufacturers to produce metal parts, claiming to be 10 times faster and at half the cost with their compact metal 3D printer, SistemT1, which leverages patented materials and processes. The company's FuseX material technology drastically cuts production time while reducing operational costs, making it the quickest and most efficient solution. According to the Chennai-based company, it addresses longstanding challenges in traditional tool manufacturing and low-volume production. SistemT1 helps manufacturers deliver parts such as moulds, dies, jigs, and fixtures in mere hours at half the cost. As per market research, the total tooling market in India is estimated at $5 billion, growing at a CAGR of 9%. ThinkMetal’s existing customers include Ants Ceramics, ZeQube Technologies, and Hosur CNC. The company’s go-to-market strategy focuses on urban medium-scale and small-scale manufacturers, leveraging paid pilots, experience centers, and on-demand services to drive adoption. Globally, Markforged, Desktop Metal, and EOS are prominent players in this industry.

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