Intangles, a Pune-based digital twin solutions provider, has raised Rs 83 crore ($10 million) in Series A funding from Baring Private Equity Partners India. Founded in 2016 by four industry experts, Intangles claims to be one of the only few players globally to have an in-house developed full-stack presence across patented algorithms, advanced hardware devices & a cloud-based data analytics platform.
Anup Patil, Co-founder and CEO of Intangles, said, “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. In the direct market, we are witnessing impressive growth pan India and are in the process of onboarding multiple large commercial vehicle OEMs.”
“We aspire to become the Digital Twin Open-Source Software (OSS) of the world across every segment. Our vision is to bring the power of Digital Twin technology to every segment across the globe so that it is accessible and beneficial to all. This will be accomplished while helping fleet operators monitor, benchmark, and conduct predictive maintenance of assets and identify underperforming assets to increase overall operational profits,” he added.
Commenting on the funding, Rahul Bhasin, Managing Partner, Baring India, said, “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 them to build their state-of-the-art product suite. After getting strong traction in the Indian market, they are venturing into Western markets. We are privileged to partner with them in this journey.”