Industrial AI startup ExactSpace Technologies has raised $1.4 million in its seed round led by Thermax Limited.
The funds will be used by ExactSpace to strengthen its suite of industrial solutions and expand its operations to North America, the company said in a press release.
Founded in 2018 by Rahul Raghunathan and Arun Jose, ExactSpace enables decarbonization and asset uptime outcomes for the energy, cement and steel industries. Its AI platform Pulse assists plant teams to make accurate decisions by providing early/predictive warnings, expert diagnostics and prognostics for minimizing carbon footprint and maximizing asset uptime.
The startup’s solutions have recently been deployed at some of the largest Industrial groups. They were selected to be a part of “digital track” of the Shell E4 startup program in 2021.
It is also currently deploying its platform with the Indian Navy, supported by Forge Accelerator as part of Ministry of Defense’s innovation program iDEX.