IoT tech startup DeTect Technologies raises funding from CIIE, Axilor and Keiretsu

BENGALURU: DeTect Technologies, an IoT tech startup from IIT Madras, has raised funding from IIM Ahmedabad's CIIE, Axilor Ventures and angel network Keiretsu Forum. Around 15 investors on the Keiretsu network invested in the company, led by entrepreneur Anil Jain's AJ Ventures.

DeTect Technologies builds technologies for the heavy industrial sector for asset monitoring. The startup's drone called Noctua is now offered to nearly 10 leading organisations, including BPCL, HPCL and Tata, among others. It has also developed an ultrasonic sensor called GUMPS which caters to the energy sector for inspection of pipelines through remote monitoring.


DeTect started at IIT Madras' incubation cell in 2013 and was founded by alumni Daniel Raj David, Harikrishnan AS, Karthik R, Tarun Mishra and professor Krishnan Balasubramanian. DeTect was chosen as winner of the ET Startup Awards in the 'Best on Campus' category this year.

DeTect Technologies had received initial capital from the IIT Madras incubation cell through one of its first clients ­­Reliance Industries.

The company now has its eyes set on international clients.

"We will use the funding on R&D and expansion to cater to international clients. We are also set to start using our products for indoor application for asset inspection," said CEO David.

The investors were also keen on DeTect's opportunity of serving international clients.

"DeTect's IoT product for high temperature and inaccessible pipelines and other industrial assets is at the cutting edge of technology and demonstrates how deep technology, which is globally competitive, is being built out of India. We are excited to support DeTect in its journey from having a world-class product to becoming a world-class business," Ashwin Raguraman, partner at CIIE's Bharat Innovation Fund said in a statement.

The startup was part of Axilor's latest accelerator batch this year, and is one of the few to have received funding from Axilor's fund.

"We participate in funding rounds in companies where we see opportunity in terms of sectors and teams, which was the case with DeTect," said Asutosh Upadhyay , head of programs at Axilor Ventures.