VC Fund Investments
AI startup ParallelDots raises $4.5-M
Gurgaon-based AI startup Parallel Dots has raised USD 4.5 million in a Series A round led by Btomorrow Ventures with participation from existing investor Multipoint Capital. The investment will help ParallelDots accelerate its product development roadmap and fuel global expansion. ParallelDots works with companies around the world and specialises in Image Recognition. ParallelDots' flagship product, ShelfWatch was launched in 2018, helping CPG manufacturers and retailers optimise retail execution and maximise sales. ParallelDots will also use the fresh capital for product innovations that bring simplicity, leverage evolving technology, and harness the power of artificial intelligence to help CPG manufacturers grow and navigate digital disruption better. ParallelDots aims to invest in new talent and expand its team across all verticals.
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