Swaayatt Robots Gains USD 4 Mn to Propel AI and Autonomous Driving Innovation The money raised will go toward expanding research and development in important fields, including reinforcement learning and unsupervised learning.
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Bhopal-based autonomous driving startup Swaayatt Robots has announced the raising of USD 4 million in funding from US-based angel investors. The firm is estimated to be worth USD 151 million after this fundraising round.
The founder of Swaayatt Robots, Sanjeev Sharma, announced on LinkedIn that the funding is part of a much larger round the startup is raising, with additional funds expected at a USD 175 million valuation over the next six to seven months.
Previously, in 2021, Swaayatt Robots had raised about USD 3 million.
The money raised will go toward expanding research and development in important fields, including reinforcement learning and unsupervised learning.
Sharma wrote on LinkedIn, "Going forward, with this new fundraise of USD 4 million, which is part of a larger fund we are raising with global investors, we will actively be inventing new AI capabilities to solve the problem of autonomous general navigation."
Sharma also stated in the post that the startup needs to find a solution to the hardest AI problem in order to ensure safe and affordable autonomous driving technology.
Since its launch in 2015, Swaayatt Robots has created exclusive algorithms and asserts that it can adeptly navigate the busy Indian roadways without the need for human assistance.
In its early years, when it was entirely self-funded, the business advanced AI and autonomous driving technologies. With capabilities like LiDAR-less perception and nighttime operation, their tests have performed better than expected.
The goal of Swaayatt to attain autonomy at the Society of Automotive Engineers Level 5 will be aided by this expenditure. At this point, autonomous systems are capable of handling every aspect of driving in every situation. The firm has carried out more than 80 demos, although it has not yet disclosed its completely autonomous capabilities on public roads.
