Artificial intelligence-focused agricultural technology startup Intello Labs Pvt. Ltd Wednesday said it has raised about $5.9 million (Rs 45 crore) in its Series A funding round led by early-stage investor Saama Capital.
The startup will use the corpus raised to accelerate growth in international markets, particularly in the US and across Asia-Pacific, per a statement.
Founded in May 2016 by IIT Bombay alumni Sharma, Nishant Mishra and Himani Shah, along with Devendra Chandani, Intello Labs uses artificial intelligence tools including computer vision and deep learning to build a platform for grading and monitoring the quality of agricultural commodities. It had closed a seed round of $2 million from Nexus Venture Partners and Omnivore in April last year.
The startup is based out of Gurugram, with operations in Singapore, China, and the US. Its major clients include Reliance Fresh, Dole, Ocean Spray, and online grocery companies in China and Southeast Asia.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India from May 10-May 13, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Intello Labs Pvt. Ltd||Gurugram||5.9 million||Series A||Saama Capital||GROW, SVG Ventures Thrive, Omnivore, Nexus Venture Partners||Information Technology|
|Ascent Health and Wellness||Mumbai||2 million||Debt||Avendus Structured Credit Fund 1||-||Healthcare|
|Magicpin||Gurugram||3.9 million||-||Lightspeed Venture Partners||Moonstone Investments, WaterBridge Venture, The Bunting Family Private Fund, Srivatsan Rajan||E-Commerce|
|Doceree Inc.||New Jersey||1 million||Seed||Kumar Gaurav||-||HealthTech|
|Tecso Charge Zone Pvt. Ltd||Gujarat||-||-||Mumbai Angels Network||-||Automotive|
|Spyne||Gurugram||-||Pre-Series A||Angellist, Smile Group, Manish Amin, Anil Goel, Anubhav Sonthalia, Deepak Mittal||-||Internet|
|Refrens Internet Pvt. Ltd||Bengaluru||-||-||Vijay Shekhar Sharma, Anupam Mittal||AngelList’s Collective Fund, FirstCheque, Amiya Pathak, Gireesh Subramaniam, Sujayath Ali, Naveneetha Krishnan, Amit Lakhotia, Ajeet Khurana||Internet|
|Sindhuja Microcredit||Noida||8.7 million||Series B||Nordic Microfinance Initiative (NMI, Carpediem Capital Partners||-||Financial Services|
|Shiprocket||New Delhi||13 million||Series C||Tribe Capital LLC, Innoven Capital, Bertelsmann India Investments||-||LogiTech|
|Nykaa||Mumbai||9 million||Series F||Steadview Capital||-||E-Commerce|