AI-solutions provider for automotive industry Intangles raises $30-M

Pune-headquartered preventive maintenance alerts provider for automobile OEMs and fleet owners, Intangles , has raised USD 30 million in a Series B funding round led by Avataar Venture Partners, with follow-on investments from Baring Private Equity India and Cactus Partners.Founded in 2016 by Anup Patil, Neil Unadkat, Jayshri Patil, and Aman Singh, Intangles provides IoT and AI-based solutions for predictive vehicle health monitoring to original equipment manufacturers (OEMs) and fleet operators. The company's platform offers repair strategies and recommendations to improve vehicle uptime and profitability.The new funds will be utilized to scale the technology, expand into new geographies, strengthen predictive AI models, and grow the team.