SwitchOn raises $1 M in crowdfunding

by | Jun 19, 2019 | IoT News

SwitchOn is an edge and Artificial Intelligence Industrial Internet of Things company which has reportedly announced that it has raised around $1 million during the seed round. pi Ventures, an acclaimed venture fund which funds IoT, AI, Blockchain had undertaken the responsibility to fund SwitchOne.

According to the sources, Axilor, pi & eminent angels originating from The Chennai Angels also took an active part in the funding round.

Avra Banerjee founded SwitchOn, & Aniruddha Banerjee in the year 2017. The company is going to use received funding amount to strength the acclaimed edge-compute architecture for expanding the team. On the other hand, it will also increase the market adoption across India along with other countries such as the European Union and the Asia Pacific region.

Concerning the announcement, the Co-Founder of SwitchOn, Aniruddha Banerjee, said that the company is going to leverage its profound expertise in both software and hardware design. The company aims to create groundbreaking edge solutions. Moreover, the company would also improve the quality of the shop-floor concerning the manufacturing industries where they would ultimately achieve operational excellence.

The company firmly believes that its customers are going to be deeply benefited from the expansion of their global footprint along with insightful technology differentiators.

Moreover, SwitchOn will aid the manufacturing industries in identifying the bottlenecks when they will be at plant-level. It will also improve the efficiency of the equipment, as well as the plant. Back in the year 2018, the company has graduated from an Axilor Accelerator Programme.

The founding partner of pi Ventures, Manish Singhal provided a comment on the investment; he stated that technology’s transparent understanding and needs of the customers attracted them to proceed with the investment. According to Mr. Singhal, the winning point was the minimal intrusive solution along with the hourly need concerning the Industrial Internet of Things space.

**This post was published on https://yourstory.com

Neelam Dimri

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