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IvyCap leads $8m funding for Indian AI firm SwitchOn
SwitchOn, a Bengaluru-based startup that makes AI tools for factory quality inspection, said on July 16 it raised US$8 million in a pre-series B round led by IvyCap Ventures, with participation from SIG Tattva and Trifecta Capital.
Founded in 2017 by cousins Aniruddha Banerjee and Avra Banerjee, the company automates quality inspection on production lines using edge-based computer vision systems that detect surface and packaging defects and sort faulty items at high speed.
SwitchOn is the brand name of Abee Research Labs Pvt Ltd. It serves manufacturers in the automotive, pharmaceutical, consumer goods, and electronics sectors.
The company has worked with companies including Unilever, ITC, Bosch, and SKF. The new round follows a US$4.2 million series A announced in April 2023.
The company said it will use the funds to support international expansion, deepen research and development in what it calls next-generation physical AI, and scale its sales efforts across manufacturing sectors.
🔗 Source: IvyCap Ventures
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