AI startup Inspektlabs attract investments from Titan Capital, Better Capital

Artificial Intelligence is the transformation needed in the current time.

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AI technology startup, Inspektlabs has raised to the tune of $600k dollars from Better Capital and Titan Capital in the pre-series-A funding round.

Better Capital, is an investment firm managed by the Snapdeal founders, Kunal Bahl and Rohit Bansal and is actively participating in seed rounds of start-ups.

Founded by former McKinsey and Zomato employees, Devesh Trivedi and Sanchit in 2019, Inspektlabs solution is based on an Inspection AI technology allowing firms to perform damage assessment, claim estimation, asset valuation, and fraud detection of physical assets using photos or videos. Its current focus is on automating car inspections for global motor insurance and automotive players.

Vaibhav Domkundwar, investor said, “At a time where the world is prodding for a contactless environment, there is an increased demand and market for automation technologies. Almost every industry today is looking to ensure safety, adeptness and productivity. We can, therefore, expect to see greater use of computer vision technologies across an even wider selection of industries in the very near future.”

Last month, enterprise AI platform NextBillion AI raised $7 million (around Rs 52.89 crore) in a Series A funding round co-led by Lightspeed Venture Partners and Falcon Edge Capital.