Industrial AI startup ExactSpace Technologies on Monday announced that it has raised $1.4 million (Rs 10 cr) in seed funding 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 startup’s proprietary AI platform Pulse combines algorithms which ‘learn’ about machine behaviour with expert knowledge of the industry it is deployed in to help operators make accurate or ‘Exact’ decisions. Deployed at over 60 plants globally, ExactSpace is well positioned to play an integral role in this $100 billion market opportunity.
Ashish Bhandari, MD & CEO, Thermax, said, “Our investment in ExactSpace is a step to augment our digital capabilities. The expertise of ExactSpace