DeepMatrix is an emerging player in the deeptech sector. It has successfully raised $1.6 million in a funding round led by YourNest and Arali Ventures. Several more angel investors such as Tracxn founder Abhishek Goyal participated in the funding round.
DeepMatrix was founded in 2022 and it is quickly gaining recognition for its innovative approach in handling geospatial data. It provides advanced tools for mining and asset management. It helps businesses in reducing costs, enhancing safety and optimizing resource management. It enables companies to analyze large datasets more efficiently by utilizing AI and computational technologies. It simultaneously saves thousands of hours in the process.
DeepMatrix has plans to accelerate its growth and expand product offerings with the help of the fresh capital. It will also focus in strengthening presence in the some of the key international markets such as the United States and Australia.
DeepMatrix CEO Naresh Soni said the funding is a significant step forward for them and also for the Indian geospatial deeptech industry. The investment will help them to utilize the geospatial data with the help of advanced AI and computing capabilities.
The approach of DeepMatrix towards geospatial data management is resonating with both investors and customers. Vivek Mansingh, General Partner at YourNest, believes that the startup perfectly aligns with their investment philosophy.
He said that DeepMatrix is a natural fit with the focus of YourNest on deeptech enterprises that develop innovative solutions to meet various customer needs.
Arun Raghavan, Managing Partner at Arali Ventures, highlighted the rapid advancements in satellite, geospatial, drone and point cloud technologies. However, many enterprises still struggle to utilize the full potential of the data due to outdated software infrastructures.
