InCred Alternative Investments, an India-based alternative asset manager, led a 2.3 billion rupees (US$24.2 million) growth investment in Adage Automation to support Adage’s next growth phase.

InCred Growth Partners Fund invested 1.8 billion rupees (US$18.9 million) as the lead investor. Adage said the funding would support AI-enabled industrial software and digital monitoring platforms, advanced engineering, manufacturing expansion, and global operations.

Founded in 2001, Adage develops industrial monitoring and gas analysis systems. The Indian company plans to deepen its presence in the Middle East, Africa, Europe, and the US.

Adage said the investment would help it strengthen its position in India and overseas markets.

🔗 Source: InCred Alternative Investments