In a funding round headed by IAN Group through its Alpha Fund, deep-tech autonomy startup RoshAi has raised Rs 22 crore ($2.36 million).
In a previous seed funding round, the Kochi-based startup raised about $1.71 million from investors like Caret Capital, Ev2 Ventures, and ThinKuvate.
According to a press release from RoshAi, the additional funds will be utilized to improve its product, increase deployments, and increase its presence in international industrial markets.
RoshAi, which Roshy John and Rajaram Moorthy co-founded in 2021, uses a combination of retrofit hardware and AI-powered fleet software to enable commercial vehicles operating in confined spaces like seaports, mining sites, airports, and industrial yards to run autonomously.
For industrial clients, the company’s autonomy operating system, vehicle retrofit kits, and cloud-based fleet management platform provide safer operations, increased uptime, and improved unit economics. It uses a “Android-for-autonomy” business model, deploying retrofit hardware for current fleets while licensing its AI software stack to OEMs and fleet operators worldwide.
The global market for industrial autonomous vehicles is expected to grow from $47.6 billion in 2024 to $162.8 billion by 2030, according to market research.
Through collaborations with Tier 1 OEMs and recurring customer interactions, the company says it has proven early validation.
With a growing patent portfolio and a technology stack built for scalability in a variety of industrial settings, its autonomy solutions have been tested over 100,000 kilometers with no safety incidents.
RoshAi is developing an autonomy platform that consists of a cloud-based fleet management system, an in-car autonomy system, and retrofit hardware. This lowers costs and speeds up adoption by allowing industrial operators to upgrade their current fleets rather than purchasing new cars or infrastructure.
It faces competition from other prominent companies in this field, including Aptiv, Black Sesame Technologies, and Phantom.
