Hipla Technologies Pte Ltd, which offers SaaS-based office automation solutions, has raised Rs 2.6 crore ($344,000) in funding from a clutch of wealthy individuals from India and Singapore.
Investors who participated in this round include Mousumi Ghosh, the founder-director of Kolkata-based Future Medical and Research Trust and Ang Hiap Chee, a Singapore-based early-stage investor in logistics companies. Ghosh has held several board positions including UCO Bank, JNIDB, SEBI.
The fresh funding will support and accelerate Singapore-based Hipla Technologies’ new SaaS solution, ContaTrack.ai. and further, grow its products in office automation space.
ContaTrack.ai harnesses the power of artificial intelligence and computer vision to successfully notify individuals when they are about to commit a safe-distancing breach and thereby avoid contamination and infection risks in large work environments.
“This capital injection will give us additional momentum to take ContaTrack.ai to a global platform and enable us to expand our talent pool,” Sandeep Kaul, CEO at Hipla Technologies, said.
Hipla, which also has an office in Kolkata, has served a multitude of industries ranging from premier IT parks, leading educational institutions to top-tier realty brands. It has also presence in Mumbai, Delhi, Pune, Bengaluru and Hyderabad.
AI startups have seen a massive surge of investor interest and funding in the last few years, as companies and clients across sectors seek to address pain points in their operations. Startups are also using to open up new products, service categories, and entire sectors.
In December, Observe.ai, an artificial intelligence-based startup that focusses on voice conversations for customer service, raised $26 million from a clutch of investors, including California-based venture capital firm Scale Venture Partners, Nexus Venture Partners, Steadview Capital, 01 Advisors and Emergent Ventures.
In November, Cogniphi Technologies Pvt. Ltd, an artificial intelligence-based cognitive tech startup, raised an undisclosed sum in a strategic investment from UST Global Inc.
In August, H2O.ai Inc., an artificial intelligence startup whose algorithms are used by firms to predict fraud, customer churn, and more, said it raised $72.5 million in a Series D funding round led by the New York-based Goldman Sachs.