Bengaluru-based deepetch SaaS startup NeuroPixel.Ai on Monday said, “It has raised $825K in a series seed round from Inflection Point Ventures and others.”
Led by Inflection Point Ventures, the round also saw participation from other investors including Entrepreneur First, Huddle, Dexter Angels, and Rishaad Currimjee.
“The funds raised will be used for scaling up their R&D team to accelerate the transition of their product from beta to production, and for expanding their ‘training set’, a crucial piece of the puzzle for every machine learning algorithm,” the statement said.
Speaking on the investment in NeuroPixel, Ankur Mittal, Co-Founder of Inflection Point Ventures said, “NeuroPixel is trying to solve this problem by building a product that can transform online fashion storefronts through catalog image-based personalization and virtual try-on, helping the average consumer make a far more informed purchase decision. It will save the businesses both time and money and will allow them to bring their products faster to the market helping them generate higher revenue and lower returns.”
“The product has huge international appeal as well. The strong founding team, the uniqueness of the approach adopted by NeuroPixel, and their high-caliber R&D team comprising PhDs and postgraduates from The Indian Institute of Science (IISc) were key factors influencing our decision to invest in the company,” Mittal added.
Commenting on the funding, Esha Tiwary, General Manager at EF India, said, “What Arvind and Amritendu are building today is a world-class, innovative, technology-led startup that can change the way consumers shop online. I’m excited to see how NeuroPixel.AI evolves and disrupts the online fashion ecosystem to pave the way for more intuitive solutions and much-needed disruption of the online customer experience. It is a matter of great pride and joy for us to see startups conceived at EF build the most impactful tech companies of the future.”
“We are extremely excited at the opportunity to work with IPV as we scale our young startup. Having access to such an accomplished and diverse pool of industry veterans amplifies the value of the seed investment raised many times over, and this access to industry veterans is clearly where IPV stands apart,” Arvind Nair, Co-founder & CEO, NeuroPixel.AI added.
NeuroPixel.AI was also among the six startups selected for investment by the ISB D-Labs incubator, under their Seed support program in collaboration with The Department of Science and Technology, Government of India.