Chinmay Bidkar
16 August 2017, India:
IoT tech startup DeTect Technologies has raised an undisclosed amount of funding from IIM Ahmedabad’s CIIE, Axilor Ventures and angel network Keiretsu Forum. Around 15 investors on the Keiretsu network invested in the company, led by entrepreneur Anil Jain’s AJ Ventures as per the report by ET.
Founded by alumni Daniel Raj David, Harikrishnan AS, Karthik R, Tarun Mishra and professor Krishnan Balasubramanian, Detect was started at IIT Madras’s incubation cell. Detect is an organization, which mainly focuses on pipeline integrity and management.
“We are looking to commercialize both products at both the national and international level. Both products are already being used by several oil and gas companies. International trials are under way,” said Daniel David, co-founder and CEO, Detect.
Ganapathy Venugopal, co-founder and CEO, Axilor Ventures, “While deep-tech has held tremendous potential, we have seen very few startups realize this promise. Detect is a great example of globally relevant deep-tech solutions emerging from India. We are very excited to see the rapid progress the young team of Detect has made during our accelerator program.” (Image- Bloomberg/ Getty Images)
Also read- Why Your Startup Doesn’t Need Significant (If Any) Early-Stage Funding To Succeed