Video AI startup Awiros raises $7 million in Series A funding
Inflexor Ventures and Exfinity Venture Partnersled the funding round that also saw participation from VedaVC.
- The company aims to use the funds for growing its business in India and overseas markets.
- The market for video AI solutions across automation, safety and process monitoring is projected to reach $27 billion by 2030, the company said
The startup offers a marketplace of video AI called Apps, that aims to help customers discover and adopt technology solutions.
“This funding round will help us build further momentum for global growth by increasing our market share, streamlining technical operations and investing in the R&D of existing and new product categories,” said Vikram Gupta, CEO and co-founder of Awiros.
Onboarding seasoned deep-tech investors from Inflexor and Exfinity would help Awiros benefit from their extensive experience in technology, international business and scalable go to market, he added.
This funding round will allow Awiros to hire more people in India and the US across technology and sales-related functions.
The market for video AI solutions across automation, safety and process monitoring is projected to reach $27 billion by 2030, the company 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,” said Jatin Desai, managing partner at Inflexor Ventures.
Awiros was founded in 2015 by Vikram Gupta and Yatin Kavishwar. Gupta is a computer engineer with a PhD from Carnegie Mellon University. Kavishwar has worked in organisations like Cisco and IBM.
Awiros uses a device-agnostic Operating System (OS) for easy development and delivery of video AI applications. The company is planning to be the default platform for computer vision use-cases that would allow developers to create and deploy computer vision applications in large-scale projects, much like app-stores for smartphones.
Chinnu Senthilkumar, managing partner at Exfinity Venture Partners, said that Awiros is building a unified video intelligence platform that derives actionable insights for its customers.
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