Avataar Venture Partners Leads USD 30 Mn Series B for Intangles The capital will be used to scale Intangles' technology, expand into new regions, enhance its predictive AI models, and grow its workforce.
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Intangles, a predictive AI company for vehicles, has raised USD 30 million in its Series B funding round led by Avataar Venture Partners, with follow-on contributions from Baring Private Equity India and Cactus Partners.
Earlier in 2023, the company secured USD 10 million in Series A funding led by Baring Private Equity India.
The capital will be used to scale Intangles' technology, expand into new regions, enhance its predictive AI models, and grow its workforce.
Founded in 2016 by Anup Patil, Neil Unadkat, Jayshri Patil, and Aman Singh, Intangles provides IoT and AI-based solutions for predictive vehicle health monitoring to original equipment manufacturers and fleet operators.
The platform offers repair strategies and actionable recommendations to improve vehicle uptime and overall profitability.
Intangles combines applied physics, scalable engineering, and systems thinking to deliver a real-time operational platform. Its AI solutions help fleets transition from reactive maintenance to proactive decision-making, enhancing operational efficiency and profitability.
The platform currently monitors more than 400,000 vehicles across North America, Europe, Southeast Asia, and the Middle East. Clients report annual savings of up to USD 10,000 per vehicle while benefiting from improved fuel efficiency and reduced emissions.
