Intangles Raises $10 Million In A Series A Round

Pune-based Indian deep tech start-up Intangles has raised $10 million in a series A funding round led by Baring Private Equity Partners. 

The company is planning to utilise the newly-generated fund to expand its business operations. It is eying to strengthen its team by hiring more staff. Additionally, it will work on its product to serve its customers. 

Founded by entrepreneurs like Anup Patil, Aman Singh and Neil Unadkat and Jayshri Patil, the company claims to help operators to monitor and benchmark electric vehicles (EVs) with its developed IoT solutions. 

Talking about the latest development, Anup Patil, the co-founder of Intangles, said, “We are focused on growing our presence across the entire commercial vehicle segment across the globe. In the coming years, we are aiming to vigorously revamp the electric vehicle (EV) segment using our extensive Ambient Cognitive AI technology." 

“In the direct market, we are witnessing impressive growth pan India and are in the process of onboarding multiple large commercial vehicle OEMs. To sustain a growth rate of over 200  year-on-year, we are constantly expanding our team by hiring on multiple levels throughout the organisation," he added. 

Currently, Intangles runs its operations in countries like India, the United States, Mexico, the Middle East and multiple other regions in Southeast Asia. 

According to an INC42 report, Intangles is eying to become the Digital Twin Open-Source Software (OSS) in the world. It also wants to explore India's emerging EV sector.