New Delhi, April 18 -- Kidswear brand Includ and artificial intelligence (AI)-based road safety platform Sapience Automata secured early-stage funding, the companies said on Thursday.
Includ
Kidswear maker Includ has raised $1.5 million (Rs 12.5 crore) in a seed funding round, led by Incubate Fund Asia. The round also saw participation from Escape Velocity, Abhishek Goyal, the co-founder, Tracxn and IIM Indore Alumni Angel Fund.
The startup plans to use the funds to improve its supply chain, build in-house technology and create brand awareness, according to its statement.
Founded in 2023 by Ashwin Rastogi, Includ caters to children aged 0-14 years old, offering a range of clothing options made out of sustainable materials. The Gurugram-based startup claims to have crossed monthly sales of more than Rs 2 crore.
Meanwhile, Japanese venture capital firm Incubate Fund Asia marked the first close of its third fund that will invest in Indian and Southeast Asian startups in September 2023. The fund, which has a target corpus of $50 million (Rs 416 crore), however, did not specify the level at which it marked the first close.
Sapience Automata
Sapience Automata has raised $209,498 (Rs 1.75 crore) in a seed funding round from early-stage investor Inflection Point Ventures (IPV).
The funds will be deployed for improving sales for driver cameras, building partnerships in the automotive domain, developing advanced driver-assistance systems (ADAS) technology along filing international patents.
Founded in 2021 by Satyajit Neogi and Unmesh Dabhade, Sapience Automata develops solutions using advanced AI and autonomous driving tech to improve road safety in India. The startup, which is based out of Bangalore focuses on commercial fleets.
"We aim to reduce road accidents in India by 90% by 2030. We started by building plug-and-play ADAS technology custom-made for Indian conditions, to prevent road accidents due to human errors such as distraction and drowsiness," said Neogi, co-founder and chief executive officer, Sapience Automata.
Published by HT Digital Content Services with permission from VC Circle.