Others that participated in the seed round include angel investors Kevin Saboo and Vikash Sharma of IC1101 Inc., Invento said in a statement.
Bengaluru-based Invento Makerspaces is the maker of ‘Mitra’ robot, which is capable of autonomous movement and obstacle detection, along with speech understanding in Asian languages like Hindi, Tamil, and Sinhalese.
The company plans to use the funding proceeds for research & development (R&D) in building and innovating new robot variants, and expand into new industries and verticals. Currently, the Mitra robots are deployed in 50 different companies including HDFC, Accenture, Morris Garages, General Motors, Zomato and PVR.
Rohit Goyal, Managing Partner of Windrose Capital, said, “Companies like Invento, which practice a culture of innovation, will spearhead India’s economic transformation. Invento is a pioneer of commercial and economically viable humanoid robotics in India, and its product ‘Mitra’ will be a game-changer in the way big brands interact with and service clients.”
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India from January 16-January 20.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Phenom People||US||30 million||Series C||WestBridge Capital||AllianceBernstein Private Credit Investors’ Growth Stage Capital Group, AXA Venture Partners, Sierra Ventures, Omidyar Technology Ventures, Sigma Prime Ventures, Karlani Capital||HRTech|
|ExtraaEdge||Pune||700,000||Pre-Series A||Sprout Venture Partners, Indian Angel Network, Pune Angels, First Cheque LLP, UIncept||-||EdTech|
|Gamerji||Gujarat||400,000||-||La Gajjar Group||-||Esports|
|ProEves||New Delhi||507,042||Seed||1Crowd||Japan Vyas, Swati Salgaocar, Lloyd Mathias, Apurva Chamaria||Consulting|
|AADAR||Mumbai||250,000||Seed||Sprout Venture Partners and angels from LetsVenture||JITO Angel Network||Health & Wellness|
|Invento Makerspaces||Bengaluru||281,690||Seed||Windrose Capital, ITI Growth Fund||-||Technology|
|Aye Finance||Gurugram||20 million||Secondary||A91 Partners||-||Financial Services|