Published on : Nov 8, 2022
India's pioneering tech Start-up Assert AI has raised $2 Million via Equity funding to expand business in the US and build specific capabilities in the agribusiness domain. The funding will fast-track AI product development to automate detection, security and workflow management through computer vision.
Be it warehousing, agri-storage, logistics & transportation, manufacturing, pharma & healthcare, retail or traffic management, and parking system; most operations remain manually operated even in 2022. Addressing this, Mumbai-based start-up Assert AI has the vision to automate operations, and ensure scalability, security, and actionable business intelligence for businesses of different sizes and types.
The company has raised $2 Million via Equity funding to expand business in the US and build specific capabilities in the agribusiness domain. The funding will fast-track AI product development to automate detection, security, and workflow management through computer vision.
Assert AI is an award-winning start-up that offers solutions to India's leading ports, manufacturing and logistics companies, banks/ ATMs, and retail chains. Some of their key solutions include face recognition, object detection, weapon detection in high-risk areas, docks utilization, packet counting in warehouses, and safety gear detection, among others.
Co-Founder Job Philip explains, "Assert AI has created a niche in various segments by creating state-of-the-art AI solutions. Our solutions are compatible with all different models of CCTV cameras available in the market today. We have both edge and cloud deployment models enabling us to cater to a vast variety of customer needs."
Assert AI has not only raised funds through industry veterans, but Arya.ag, India's largest integrated grain commerce platform and a client of Assert AI, has also participated in this round. The agritech start-up already offers its users real-time tracking of their Agri commodity, providing complete assurance on quantity, quality, and payments.
Apart from Arya.ag, the AI start-up has also raised funds from Prashant Purker, Ex-MD & CEO of ICICI Venture. The lead equity investor Prashant Purker feels, "Assert AI has developed cutting-edge AI technology that has the potential to solve a multitude of industry problems."
Prasanna Rao, Co-Founder & Managing Director, Arya.ag, said, "Assert AI is uniquely placed to solve customer needs around video analytics. In fragmented agri value chains, assurance is essential to bridge the trust gap. With the partnership with Assert AI, Arya.ag intends to strengthen its blockchain offerings and AI & deep tech vision for unprecedented visibility and assurance for its storage, financing, and commerce offerings."
Computer Vision, in particular, gives the machines a pair of eyes and the sense of sight through ML algorithms. It is deployed across several areas allowing automatic annotation of images and video data with the help of trained models developed using ML. Deploying computer vision, Assert AI generates data that never existed before, thereby helping organizations look at their operations in entirely different ways.