Chennai-based Detect Technologies, an IoT start-up, has raised seed funding from the Keiritsu Forum, Centre for Innovation, Incubation and Entrepreneurship (CIIE) and Axilor Ventures.
The amount that the company has raised is not disclosed, and the round was led by AJ Ventures and investments of the Refex Group.
Founded by IIT-Madras alumnus Krishnan Balasubramanian, who is currently a faculty member at the University, Detect Technologies works on high temperature solution, remote monitoring and continuous monitoring.
Detect’s products include GUMS, NOCTUA, SCOPE-I and CSS. GUMPS (Guided Ultrasonic Monitoring of Pipe Systems) offers an IoT solution, and it is also a fully automated continuous condition monitoring system for pipelines that can operate at temperature extremes. This system is capable of monitoring pipelines of lengths of upto 60 m from a fixed point. It also transmits the data to any location using the cloud. The data is analysed using intelligent algorithms and provides the state of the pipe line including early detection of defects being formed and their growth rates.
The start-up was part of Axilor’s latest accelerator batch this year, and is one of the few to have received funding from Axilor’s fund.
“We participate in funding rounds in companies where we see opportunity in terms of sectors and teams, which was the case with DeTect,” said Asutosh Upadhyay , Head of Programs at Axilor Ventures.
The company also plans to perform globally. “We are looking to commercialise 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 said, “While deep-tech has held tremendous potential, we have seen very few start-ups realise 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.”
