PE Fund Investments
Visual inspection tech startup SwitchOn raises $4.2 M
Bengaluru-headquartered vision AI startup SwitchOn has raised USD 4.2 million in its Series A round led by a Singapore-based fund, Axilor Ventures and Pi Ventures. Prominent angels such as Anuj Bihani and Laxmi Narayan participated in the round. SwitchOn's flagship product DeepInspect claims to help manufacturers identify complex surface defects quickly and claims to achieve an accuracy of over 99%. This investment will allow SwitchOn to continue its growth in India, ramp up internationally with large enterprises, make key hires in sales and technology, and invest in research and development.
From the Venture Intelligence PE-VC Deal Database: Between Apr-19 and Apr-21, SwitchOn had raised about INR 9 Cr from Axilor Ventures, Pi Ventures and SINE. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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