Under the esteemed business India Seed Fund Scheme (SISFS) programme, AugurAI Private Limited, the first AI-enabled vision inspection business in optics, has raised around $60K (INR 50L) in a seed funding round headed by the SASTRA FIRST Technology Business Incubator (TBI).
The investment is a component of the central government’s larger plan to assist creative startups and fortify India’s entrepreneurial scene.
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The SISFS Seed Fund Program
The SISFS initiative is designed to help businesses that have a lot of room to grow and make a big impact. The program’s objectives are to give promising entrepreneurs mentorship, financial support, and strategic advice.
Role of SASTRA First TBI
Sakthi Srinivasan, CEO of SASTRA FIRST TBI highlighted the alignment of AugurAI Private Limited’s vision with the objectives of the SISFS programme, stating, “We believe in the vision and potential of AugurAI. Their commitment to leveraging AI technology to solve real-world industrial problems in manufacturing sectors across various domains aligns perfectly with the objectives of the SISFS programme and with the vision of FIRST TBI”
AUGURAI’s Innovative Visual Inspection Solutions
Based in Tiruchirappalli, AUGURAI is a cutting-edge Optics First firm that uses AI to enable visual inspection. They offer all the components needed for end-to-end quality inspection in production, such as automation, artificial intelligence algorithms, and optics. To help them integrate visual inspection solutions in their facilities and help them assure zero faults reach their consumers, they are collaborating with top automobile OEMs, component manufacturers, pharmaceutical, and fast-moving consumer goods companies.
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Known for their inventiveness at the nexus of AI and optics, AUGURAI has created ground-breaking technologies such as 360-degree inspection using a single camera, bottle print inspection, and internal casting inspection. AUGURAI is becoming well-known for its ability to solve the most challenging Visual Inspection tasks.
AUGURAI has received numerous awards for its creative solutions, including the Watts Humphrey Award for Software Excellence, the CII Best Innovative Solution, the FICCI Most Promising Innovative Startup, and the NASSCOM Top 50 Emerging Startups.
AUGURAI’s CEO, Ravishankar Rajagopalan, has over 15 years of experience in the industry developing AI solutions at scale and over 10 years of manufacturing experience. The team is led by this passionate group of professionals with expertise in Optics, AI/Software, and Industrial Automation. Imaging and Machine Vision Europe Magazine named Ravishankar a Visionary in the Machine Vision field lately.
Focused on scaling operations
AugurAI Private Limited intends to use the money it has raised to improve product development, grow its operations, and penetrate new markets.
Mr Ravishankar, Founder and CEO of AugurAI Industries, said, “We are honoured to receive this support from SASTRA FIRST TBI and SISFS. This funding will be instrumental in driving our mission to revolutionize the manufacturing industries by empowering quality control personnel with cutting-edge technology solutions. The validation from such esteemed institutions is a testament to our team’s hard work and commitment”
About AugurAI
Augurai improves manufacturing quality assurance with machine vision. The full solution includes an SPM, cameras, and computer vision algorithms to detect problems in real time.
