Intelligent video analytics startup Pixuate has recently raised an undisclosed investment from investment platform Mumbai Angels Network, IIM Ahmedabad’s incubation centre CIIE.CO, and a group of angel investors. Pixuate had earlier received debt funding from nodal agency of the Government of India, Technology Development Board (TDB).
The startup plans to use the funds to invest in R&D to accelerate product development and feature engineering. Pixuate also plans to use the fresh capital for market expansion and adding more use-cases and applications.
Nandini Mansinghka, Co-Promoter and CEO of Mumbai Angels Network, said: “There is no doubt that the future will be driven almost entirely by technology and given that video-based analysis is a rapidly growing and evolving field, our investment will help Pixuate scale up swiftly to cater to the growing demand for tech-powered video analytics across various sectors. This funding is a testament to the Pixuate team’s in-depth expertise in the field to build a robust platform that India needs.”
Operating under parent company Cocoslabs Innovative Solutions Pvt Ltd., Pixuate is the brainchild of tech enthusiast Prathvi Palekar. The video analytics startup uses proprietary algorithms in AI, deep learning, and computer vision, to deliver real-time and actionable insights from high-volume video and image data.
“Our mission is to create real value for enterprises by deploying cutting-edge AI since it is unquestionably the best way ahead. Over the past five-years, our R&D team has worked relentlessly to develop an enterprise-class analytics engine that can make sense of any video stream or image database. High availability and scalability are inherently built-in in Pixuate’s system,” Prathvi said.
Pixuate offers solutions for security intelligence, compliance audits, and automation. The platform provides a complete suite of deep-tech enterprise solutions.
Co-founder Akshata Kari said, “Our platform has been a boon for enterprises in both private and public sectors and we are overwhelmed by the response received so far. Pixuate helps industries prevent workplace hazards, ensure compliances, track inventory at high efficiency, and reduce pilferage of goods drastically. Most importantly, the company enables top-notch automation without the need for heavy upfront investment by the clients. We can enable existing CCTV cameras, with our software that runs on low-cost GPU devices that can scale from five to 5,000 cameras frictionlessly. Further, all our analytics have API connectors available for data that needs to be passed on to existing systems like HRMS. Lastly, our system can alert for any camera downtime, inform if an intruder or fire or any mishap is happening on the premises through instant email/SMS/API alerts.”
Pixuate’s celebrity clientele includes L&T, Unilever, ITC, and Bigbasket. At present, Pixuate offers video analytics solutions specifically designed for the pharma, logistics, oil and gas, and food and hospitality industries.
Additionally, the platform’s video analytics capabilities are also ideal for smart cities and highway traffic management. Pixuate has recently developed a unique video analytics-based traffic count and classifier system for highway audits and efficient toll management, which was successfully tested by L&T. The product reduces the turnaround time for highway audits by up to 90 percent.
Furthermore, last year, Pixuate’s temperature checking solution was utilised by the Department of Urban Land Transport (DULT) and the Government of Karnataka at Church Street – one of Bangalore’s busiest areas – for the ‘Clean Air Street’ initiative. With advanced tech-driven systems, Pixuate has helped identify 3,000 face mask violators and checked the temperature of over 2,00,000 people.