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BENGALURU: Robotics startup Ishitva has raised over $1 million as part of its Pre-Series A round, led by Inflection Point Ventures, the company said on Friday.
The funds raised will be deployed to grow sales and expand Ishitva’s research and development team, the Ahmedabad-based firm said.
The three-year old startup uses artificial intelligence (AI), machine learning (ML), and internet of things (IoT) to build solutions which help sort complex waste. The company focuses on leveraging industry 4.0 tools to systematically sort waste and assess the quality of recyclable waste.
“The Indian waste management industry is a riddle and our unlimited dream is to eliminate the manual sorting of waste which often involves humans to work in unhygienic conditions. Our vision is to install industry 4.0 solutions in over 4000 towns of the country picked up by the Swachh Bharat mission and we are thrilled to have IPV as a part of this journey," said Jitesh Dadlani, founder of Ishitva.
“We are excited that many of the waste industry stalwarts are joining early in our journey. With IPV, we now have access to a large pool of professionals and experts which is immensely useful at this stage for us," said Sandip Singh, chief executive of Ishitva.
Ishitva currently offers a range of solutions, including SUKA, AI-powered air sorting, YUTA, AI-powered robotic sorting solution stack as well as Netra AI vision system which help in identifying waste and smart bins. The AI-powered Netra identifies waste, learns about its contents by capturing images, and then scans for recyclable material.
“According to the ministry of housing and urban affairs, as of January 2020, India generated 1,47,613 million tons of solid waste. This is a serious situation that our country is headed to and we are seeing startups taking on this challenge to address the waste generated in the country. Ishitva’s model is particularly innovative as they are leveraging cutting-edge technology to sort out the waste which is already being generated," Mitesh Shah, Co-founder, Inflection Point Ventures.
Inflection Point Ventures looks to invest ₹155 crore this year across 60 plus startups.
