Vision AI Startup SwitchOn Raises $4.2 Million In Series A Funding
Vision AI startup SwitchOn has raised $4.2 million in a Series-A funding round led by a Singapore-based fund, Axilor Ventures, Pi Ventures, and prominent angels such as Anuj Bihani, Laxmi Narayan, and others.
As per the startup, the freshly raised funds will allow it to continue its rapid growth in India, scale internationally with large enterprises, make key hires in Sales and Technology, and invest in research and development.
SwitchOn | Helping Manufacturing Plants Eliminate Defects
Started by Aniruddha Banerjee (ex-Nvidia, ex-Samsung) and Avra Banerjee (ex-Schneider, ex-Team Indus) in 2020, SwitchOn helps precision manufacturing industries drastically reduce their manufacturing defects through the use of a one-of-a-kind field-trainable AI system.
As per the startup, their platform is used by leading global manufacturers such as SKF, ITC, Unilever, and others to give quality superpowers to their inspectors and ensure zero defects in their plants.
Speaking on the development, Aniruddha Banerjee, Co-Founder of SwitchOn, said,
“We believe that we have stabilized AI to the point where single-day trials and single-week deployments are finally a reality. We are thrilled to have the support of investors who understand the Industrial B2B SaaS space as we continue to make Zero-Defect a reality for the manufacturing industry.”
SwitchOn’s DeepInspect helps manufacturers identify complex surface defects quickly and achieve superhuman accuracy of over 99%+. As per the startup, the quick setup uses less than 200 good images to train AI models, enabling manufacturers to adopt and completely automate their quality inspection and deploy hundreds of SKUs within days.
The startup added that while manufacturing companies globally employ more than 25% of their workforce on quality inspection alone, they still face over 50 customer complaints per plant every year. This leads to the spending of over $6.5 billion in brand reputation impact, product wastage, and losses.
Commenting on the development, Shubham Sandeep, Managing Director at Pi Ventures, said,
“Over the last 4 years, SwitchOn has scaled with multiple Fortune 500 customers globally by leveraging their innovative AI technology to deliver Zero-Defect to manufacturing. SwitchOn has unlocked the inspection of complex use cases in automotive parts, consumer goods, and pharmaceuticals which shows the robustness and scalability of the platform. Since Day 1, we have been extremely impressed by Aniruddha, Avra, and the entire team at SwitchOn and are excited to continue supporting them as they build a world-leading Vision AI Company from India.”
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