Mitra’s makers get seed funding

#News(Startup) [ via IoTGroup ]

Headings…

Mitra’s makers get seed funding

Robot greeted Modi, Ivanka Trump at entrepreneurship summit
The investors
Launching variants

Auto extracted Text……

Invento Makerspaces, the makers of Mitra robot that greeted Prime Minister Narendra Modi and Ivanka Trump at the Global Entrepreneurship Summit 2017 in Hyderabad, have received seed funding, which will be used for further research in building and innovating new robot variants and business expansion into new industries.
The investors
Pune-based Windrose Capital, a venture capital firm and Mumbai-based ITI Growth Fund have invested in the seed round funding amounting to ₹2 crore, said a statement issued on Monday, adding that the round also saw participation from a few other domain investors.
A Bengaluru-based firm, Invento Makerspaces builds service robots for banks, malls and event.
Its flagship product Mitra comes with three key abilities — home grown contextualised speech recognition algorithm that works offline, face recognition, and navigation indoors.
Incidentally, the more advanced Mitra 3 was recently unveiled at the Consumer Electronics Show in Las Vegas.
The robot is designed to interact with humans using facial and speech recognition, contextual help and autonomous navigation.
The robot is also capable of seamless autonomous movement and obstacle detection, along with speech synthesis in regional Asian languages like Hindi, Tamil, and Sinhalese.
Launching variants
The company is looking to launch subsequent variants of robots for applications in different industries and operating verticals.
Currently, Mitra is deployed in various capacities at about 50 different companies such as HDFC, Accenture, Suzuki, Morris Garages, General Motors, Zomato and PVR, to name a few.
Invento Makerspaces was founded by Balaji Viswanathan in Bengaluru in 2016 along with two co-founders with experience in robotics, consulting, research and development, and managemen

Read More..
AutoTextExtraction by Working BoT using SmartNews 1.02976805238 Build 26 Aug 2019