Investments: Assert AI to spend Rs.30cr on expansion in Western markets

Prominent investors back Series A funding round

Assert AI, India’s largest Computer Vision SAAS company, says Rs.30 crore (US$4 million), raised from Series A funding round, is for expansion further into key Western markets.

The company said it plans to utilize the funds to bolster its presence in essential markets, enhance research and development efforts, and continue pioneering new advancements in Computer Vision technology.

Prominent investors in the round including Ramesh Hariharan (ex-CTO and Co-founder of LatentView), Prashant Purker (former MD & CEO of ICICI Venture), Arya.ag (India’s largest integrated grain commerce platform), and select individuals, underscored strong support and confidence in Assert AI’s vision and capabilities.

“This investment reflects the confidence of our investors in Assert AI’s vision and potential. It will fuel our expansion efforts and accelerate the development of innovative AI Vision solutions that drive value for our clients globally,” Job Philip, CEO of Assert AI, said on 29 Apr 2024.

Assert AI, with existing operations in India, the US and the Middle East, has a robust portfolio of solutions, Assert AI continues to push the boundaries of innovation through their patented technology, driving transformative change across industries. fiinews.com