Intangles, a digital twin solutions provider, has raised $10 million in a Series A round from Baring Private Equity Partners India.
According to a press release, the startup would utilize the money to strengthen its product engineering, sales, and delivery teams through accelerated hiring, serve a new customer pipeline, and expand its global presence.
According to Intangles, it is one of the few companies in the world with a full stack presence across patented algorithms, cutting-edge hardware, and a cloud-based data analytics platform—all developed in-house.
“We are focused on growing our presence across the entire commercial vehicle segment across the globe. In the coming years, we are aiming to vigorously revamp the electric vehicle segment using our extensive Ambient Cognitive AI technology,” said Anup Patil, Co-founder, and CEO of Intangles.
“In the direct market, we are witnessing impressive growth pan-India and are in the process of onboarding multiple large commercial vehicle OEMs,” he added.
Intangles claims to have developed substantial in-house IP by leveraging its proprietary digital twin and machine learning paradigms to provide OEMs and fleet operators with predictive vehicle health monitoring solutions. Intangles was founded in 2016 by Anup Patil (CEO), Neil Unadkat (CTO), Aman Singh (Head of Analytics), and Jayshri Patil (Head of Embedded Systems).
“Intangles is a leader in digital twin technology, enabling efficiencies in automotive and industrial applications. Integrating deep competency in artificial intelligence, predictive analytics, edge computing, and communication technologies has allowed it to build its state-of-the-art product suite. After getting strong traction in the Indian market, it is venturing into Western markets,” said Rahul Bhasin, Managing Partner, Baring India.
E&Y acted as the company’s exclusive financial advisor in this funding transaction.