Datoms, an industrial IoT startup, has raised $1.2 million in a pre-Series A round led by Yournest Venture Capital to enhance its product offerings and expand its market reach.
Target Information
Datoms is an industrial deep tech Internet of Things (IoT) startup that specializes in providing solutions for Original Equipment Manufacturers (OEMs). Established in 2021 and operated by Phoenix Robotix Pvt Ltd, the company was co-founded by Amiya Samantaray, Nataraj Sahoo, Amrit Biswal, and Asish Sahoo. With a focus on human-capital-intensive sectors, Datoms aims to enhance operational efficiency through automation in asset management and activity planning. The company has quickly gained momentum, connecting over 5,000 machines across various industries including construction, warehousing, agriculture, mining, and ports.
Recently, Datoms announced the successful raising of $1.2 million (approximately Rs 10 crore) in a pre-Series A funding round led by Yournest Venture Capital. The funds will be utilized to enhance product offerings in construction and warehousing, improve in-house AI/ML capabilities, and expand market presence in India and the Middle East.
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Industry Overview
The IoT landscape in India is witnessing remarkable growth, driven by increasing adoption across numerous sectors. According to a report from Fortune Business Insights, the market for IoT-connected machines was valued at approximately $128 billi
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Yournest Venture Capital
invested in
Datoms
in 2023
in a Pre-Seed Stage deal
Disclosed details
Transaction Size: $1M