Ev2 Ventures/Caret Capital has announced the seed investment of $1 million in RoshAI, a Kerala-based deep-tech company enabling the development of vehicle agnostic end-to-end Autonomy Stack that includes advanced mapping, perception, navigation, SoC development, and ADAS solutions.
The round also saw participation from South East Asia & India-focused startup investment firm ThinKuvate.
Founded in 2021, RoshAI is a development partner within the autonomy ecosystem, catering to automotive OEMs (including EVs), seaport and airport operators, and the mining sector. Their autonomy platform facilitates the rapid development of AV prototypes, ADAS, and AV test platforms, expediting ADAS development and testing. Additionally, they offer vehicle-agnostic autonomy and drive-by-wire retrofit kits that can convert any vehicle into a fully or partially autonomous vehicle.
RoshAI targets seaport congestion and mining productivity issues by addressing driver shortages and equipment inefficiencies respectively. In seaports, where 80% of global logistics flow, driver scarcity leads to delays. Mining faces productivity drops of 15%-20% due to equipment issues. Both sectors seek safer operations, a gap RoshAI aims to fill with autonomous vehicles.
Speaking on the seed round funding, Dr Roshy John, Founder & CEO at RoshAI said, “Our mission is to revolutionize the future of mobility by providing cutting-edge autonomous driving solutions that enhance safety, efficiency, and sustainability in the automotive industry. We strive to be the global leader in autonomous vehicle technology, driving innovation and setting new standards in the industry.”
“Technology is at the heart of everything we do at RoshAI. We are dedicated to pushing the boundaries of innovation in autonomous vehicle systems, ensuring that our solutions are not only cutting-edge but also practical and scalable. By enabling autonomy transformation, we support our clients in tackling critical challenges on the ground, ultimately driving forward the future of autonomous mobility,” Rajaram Moorthy, Co-Founder & CTO at RoshAI added.
Commenting on the investment, Karan Mittal, Managing Partner, Ev2 Ventures/Caret Capital said, “We are excited to partner with RoshAI as they continue to push the boundaries of innovation in autonomous vehicle technology. With a proven track record and extensive experience in the sector, we are confident in the Founders’ ability to drive positive change in the automotive industry through their revolutionary technology.”
“We believe RoshAI’s advanced autonomous software and groundbreaking solutions will allow the Company to have a first mover advantage in driverless and ADAS technology for ports, seaports, and mining operations among other sectors,” Addison Appu, Partner at ThinKuvate further added.