Swaayatt Robots Secures $4 Mn To Propel Autonomous Driving Innovation
The proceeds will be used to scale research and development in key areas such as unsupervised learning and reinforcement learning
Bhopal-based Swaayatt Robots recently secured USD 4 million in funding. According to founder Sanjeev Sharma, this funding round values the seven-year-old startup at approximately USD 151 million.
In a LinkedIn post, Sharma announced that unnamed US-based angel investors provided the capital. He noted that this is part of a larger fundraising effort, with additional funds expected at a USD 175 million valuation over the next six to seven months. The proceeds will be used to scale research and development in key areas such as unsupervised learning and reinforcement learning.
This investment will support Swaayatt's goal of achieving Society of Automotive Engineers Level 5 autonomy. At this highest level, driverless systems can manage all driving functions under all conditions. Although the startup has conducted over 80 demonstrations, fully autonomous capabilities on public roads are yet to be revealed.
Since its launch in 2015, Swaayatt Robots has developed proprietary algorithms and claims to excel in navigating chaotic Indian roads without human intervention. During its self-funded early years, the company made significant strides in AI and autonomous driving technologies. Their tests have exceeded expectations with features like LiDAR-less perception and night-time operation.
This latest funding round comes amid a broader decline in overall funding in India, yet it underscores continued confidence in the potential of autonomous driving to revolutionize transportation worldwide in the coming years.
