Industrial AI company Detect Technologies on Wednesday said it has raised USD 12 million (about Rs 89.1 crore) in funding, led by Accel.
Existing investors Elevation Capital, Bharat Innovation Fund, BlueHill Capital, and Axilor Ventures also participated, a statement said.
Stride Ventures participated as a venture debt partner, it added.
The company will utilise the funding to further expand and strengthen its sales and operations teams across India and international markets in North and South America, Singapore, Indonesia, the Middle East, and Europe and to fulfill the accelerating demand for industrial automation, the statement said.
Part of the funds will also be deployed for R&D and product innovation to strengthen Detect’s lead in industrial AI and the Internet of Things.
Detect said its client portfolio has grown to over 45 companies, and its solutions have been implemented in more than 100 individual sites globally.
The company has also expanded into six new international
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