SwitchOn which is an Edge Artificial Intelligence enabled industry has announced that they have successfully able to raise a total of $1 million in seed funding. This funding round was led by pi Ventures, members of The Chennai Angels and Axilor.
This company was founded by Avra Banerjee and Aniruddha Banerjee in the year 2017. The company basically helps all the manufacturing industries identify all the plant level bottlenecks and improve all their equipment efficiency. The money that has been raised by the company will be used to strengthen all the edge computing architecture by expanding all the teams.
The company graduated from the Axilor Accelerate Program in 2018. SwitchOn’s co-founder Aniruddha Banerjee said:
“SwitchOn is leveraging deep expertise in hardware and software design to create state-of-the-art edge solutions for increasing transparency, reducing turn-around, and improving quality on the shop-floor of manufacturing industries to ultimately achieve operational excellence. We are very excited about the new investment and the deep expertise of our investors in scaling IP-led hardware-software business”
The company is now working on different FMCG manufacturing sectors or automotive. Manish Singhal, founding partner, pi Ventures, added:
“What attracted us to invest in them was their clear understanding of technology and customer needs. Another winning point was their minimally intrusive solution, the need of the hour in the Industrial IoT space.”
The company is going to make big changes in their business model once the whole money comes out.