NeuroPixel.AI raises seed fund of US$825k led by IPV
Deeptech SaaS startup NeuroPixel.AI has raised $825k in a seed round led by Inflection Point Ventures. Other investors in the round include Entrepreneur First, Huddle, Dexter Angels, and Rishaad Currimjee.
The company is planning to use the funds raised for scaling up the R&D team to accelerate the transition of its product from beta to production, and for expanding its ‘training set’, a crucial piece of the puzzle for every machine learning algorithm.
“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,” said Arvind Nair, Co-founder & CEO, NeuroPixel.AI.
Building innovative technology to change consumer experiences
Founded in 2020 by Arvind Nair (CEO) and Amritendu Mukherjee (CTO), the startup works to apply advanced AI/ML and statistical learning theory in the Computer Vision and Image Processing area for online retail storefronts.
NeuroPixel.AI’s first product, which is an AI-powered cataloguing tool, will enable users to shoot any apparel on just a mannequin, and their technology will render the apparel on models of different sizes in different poses. In the near term, they will reduce cataloguing spends by 30%, and reduce process times by 90%, claims the company.
“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,” said Esha Tiwary, general manager at EF India.
NeuroPixel.AI was among six startups selected for investment by the ISB D-Labs incubator, under their seed support programme in collaboration with the Department of Science and Technology. The startup has also been selected into the Huddle accelerator, which will commence from the closure of this round of funding.