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UST Global invests in Indian startup Cogniphi Technologies

Business Finance

Press Trust of India  |  New Delhi 

US-based tech major UST Global on Wednesday said it has invested in Cogniphi Technologies, an AI and cognitive technology startup in India.

The strategic investment will accelerate the development and advanced research of Cogniphi's Artificial Intelligence and Vision (AIVI) platform, and the companies will formalise a joint go-to-market strategy, a statement said.

Cogniphi's AI solutions are used by manufacturing, retail, surveillance, public sector, healthcare, and logistics companies. The Trivandrum-based startup also has ongoing projects in telematics, security and surveillance through its associate company, Ideas and Innovations Squared Technologies (II2).

"Investing in Cogniphi Technologies reflects our continued commitment to offer the best of technologies for our clients. At Cogniphi, we have seen some of the finest and brightest minds in product, design, and engineering, who share our passion for delivering real value and solve complex business problems to our clients..." UST Global Chief Operating Officer Alexander Varghese said.

Rohith Raveendranath, founder and CEO of Cogniphi Technologies, said investment from UST Global "reinforces our vision for Cogniphi and the credibility of the technology platform that we are creating".

"Beyond the investment, their global customer reach, technology depth, and marketing strength will give a significant thrust for us, a much-needed scaffolding for any startup," he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, November 20 2019. 12:30 IST