Private Equity PE-VC Fund Investments
Quality inspection systems provider SwitchOn raises $8-M led by IvyCap Ventures
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Bengaluru-based SwitchOn has raised USD 8 million (INR 78 crore) in a pre-Series B funding round led by IvyCap Ventures, with participation from SIG Tattva and Trifecta Capital.Founded in 2020 by Aniruddha Banerjee and Avra Banerjee, the company develops quality inspection systems for the manufacturing sector. Its platform integrates computer vision and artificial intelligence directly into factory equipment to automate quality checks and defect detection.The company plans to use the new capital to scale its go-to-market operations, strengthen its research and development, and expand internationally.
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Between Apr 2019 and Dec 2022, SwitchOn had attracted about $6-M from Axilor Ventures, Pi Ventures and others.For FY25, SwitchOn had reported about Rs.6-Cr in Operating Income and about Rs.7-Cr in Net Loss.