Early-Stage Startups Electrifuel, Algomage Raise Funding – EQ Mag Pro
Electric vehicle technology startup Electrifuel has raised Rs 1.8 crore in its seed round led by Indian Angel Network (IAN) investors Vishnuraj Kunjur, Sahil Kejriwal and Pradeep Gupta.
The Delhi-based startup plans to use the funds to hire top talents for multiple roles, expand its team and scale production.
Founded in 2017 by a group of engineers, Sumesh Kumar, Sunil Kumar, Abhishek Kumar, and Ujjwal Bhardwaj, Electrifuel offers smart electric vehicle technologies, including geolocation, cellular connectivity, efficient and fast charging, and battery swapping.
Electrifuel claims to have so far deployed more than 15,000 units of its products to 25 customers. The startup is also in trials with four battery manufacturers, the company said in a release.
Algomage
Mumbai-based post-production startup Algomage has raised $850,000 in a pre-seed funding led by The DotIn Network.
Founded in 2021 by Anand Rathi, Algomage offers artificial intelligence (AI) powered post-production suite that can process raw pictures into superlative images in near real-time, the company said in a release.
Algomage claims that it has more than 3,500 active users that process in excess of five million images every month through its platform.
The startup also claims that it helps businesses reduce their image turnaround time significantly in a fraction of the cost involved in manual processes.
Algomage will use the funds to introduce new tools to its AI post-production suite and expand its services to overseas markets.
“Being a professional photographer entails having to scan through thousands of images every day in the hope of finding the perfect picture that would fit the client’s requirements. Moreover, they also need to reach out to more businesses and focus on improving their visibility by sharing their work on multiple platforms,” said Anand Rathi, founder and chief executive officer, Algomage.
“At Algomage, we are solving these issues through our AI post-production suite that has inbuilt culling, editing and sharing functionalities. With the recently concluded pre-seed funding round, our focus will now rest on unlocking new tools, while also expanding our customer base to markets beyond India,” he added.
Source: vccircle
