The Indian deeptech sector has achieved a significant milestone with DATOMS, an established Internet of Things (IoT) startup company, raising ₹25 crores (approximately $2.76 million) in its Series A round. Big Capital JSC led this strategic investment.

The investment indicates that investors have a high level of trust in the specialized technological solutions that the company offers. IvyCap Ventures and YourNest Venture Capital were also part of the funding round and followed on. The startup has a strong financial foundation to support its further expansion in the next stage.

Capital infusion and primary objective

This new capital injection follows an earlier funding win in October 2023, when the startup raised $1.2 million led by YourNest VC. This new Series A round values the company at a post-money valuation of approximately ₹110 crore ($12.18 million according to recent estimates. 

This round was successfully closed demonstrates the rising popularity of advanced industrial monitoring and the ability of the startup to provide value in the deeptech ecosystem. The main task of the newly obtained funds is to strengthen the main product line and technological background of the company. 

DATOMS will use the proceeds to achieve market growth and diversification into new geographic locations. The company also intends to perfect its predictive maintenance and energy management technology based on AI, which is paramount to the functioning of a modern industry. Through the use of advanced analytics, the startup aims to offer its clients more insightful information and efficient methodologies in the management of their heavy machinery and energy intake.

Connectivity and operational scale

The entrepreneurial team of Amiya Samantaray, Asish Sahoo, Nataraj Sahoo, and Amrit Biswal founded DATOMDS in 2021. DATOMS has developed a high-tech industrial IoT platform. The platform is meant to close the divide between physical machinery and digital control, allowing the linking of assets and turning them into trackable entities during their whole life cycle. This connectivity is also vital to enterprises and Original Equipment Manufacturers (OEMs) who need real-time data in order to ensure operational efficiency and increase equipment lifespan.

The DATOMS is a powerful platform that offers a full range of applications enabling users to track the performance of machines in real-time. The technology helps businesses to forecast failures and plan proactively by determining the possible problems before they cause any breakdowns. The service targets maximizing energy consumption and automating service processes, which also directly translates into lower operation costs and enhanced sustainability of major industrial participants.

DATOMS continues to have a large footprint in its operation, where it monitors more than 25,000 machines in a wide scope of critical areas. It uses its technology in the logistics, healthcare, manufacturing, and heavy industries, including cement, steel, and mining. 

With its two bases in Bhubaneswar and Bengaluru, the company already has an international presence serving over 100 customers in different parts of the world. This wide range of clients creates an impression of the flexibility and scalability of its IoT solutions in various industrial settings.

The startup has created some challenging goals in the short term. DATOMS will expand its business operations by a substantial margin, in an effort to expand the number of monitored machines in the next year; the numbers are expected to go up to 1 lakh as compared to the present level of 25,000 machines. Such an aggressive expansion approach highlights how the company believes in becoming a force in the industrial IoT industry and its willingness to support large-scale implementations of global companies.

Conclusion

The successful Series A round of funding led by Big Capital JSC is a milestone for DATOMS. The ₹25 crore acquisition will enable the company to improve its AI potential and increase its industrial presence worldwide.

Since the startup advances toward its mission of tracking 100,000 machines, its emphasis on predictive maintenance and efficiency will probably have a significant impact on the digitalization of the global industrial business. Having an excellent team of leaders and in the company of major venture funds, DATOMS will keep on its uphill path in deeptech IoT.