Intangles raises $30 Mn in Series B round led by Avataar Venture

Intangles, a physics-enabled Predictive AI for vehicles, has raised $30 million in Series B funding led by Avataar Venture Partners, with follow-on investments from Baring Private Equity India and Cactus Partners. 

Earlier in February 2023, Intangles had raised $10 million in its Series A round led by Baring Private Equity India.

The proceeds will be used to scale the technology, expand into new geographies, strengthen predictive AI models, and grow the team.

Founded in 2016 by Anup Patil, Neil Unadkat, Jayshri Patil, and Aman Singh, Intangles uses IoT and AI-based solutions to provide predictive vehicle health monitoring to original equipment manufacturers (OEMs) and fleet operators. Its platform offers repair strategies and recommendations aimed at improving vehicle uptime and profitability.

Intangles combines applied physics, scalable engineering, and systems thinking to create a predictive, real-time operational platform. Its AI solutions enable fleets to move from reactive decision-making to proactive strategy, improving profitability and operational efficiency.

The platform manages over 400,000 vehicles across North America, Europe, Southeast Asia, and the Middle East. Clients include OEMs and enterprise fleets. Intangles helps fleets save up to $10,000 annually per vehicle while improving fuel efficiency and reducing emissions.