Intangles Raises USD 10 Mn in a Series A Funding Round Led by Baring Private Equity

Founded in 2016 by four industry experts, Intangles has developed substantial in-house intellectual property by leveraging its proprietary digital twin and machine learning paradigms to provide predictive vehicle health monitoring solutions to OEMs and fleet operators. The proceeds will be used to serve a new customer pipeline, expand its global presence, and accelerate hiring to strengthen its product engineering, sales, and delivery teams, the company said.

Intangles Lab Pvt. Ltd., one of India’s growing digital twin solution providers, has raised USD 10 million in Series A funding from Baring Private Equity Partners India.

Founded in 2016 by four industry experts, Intangles has developed substantial in-house intellectual property by leveraging its proprietary digital twin and machine learning paradigms to provide predictive vehicle health monitoring solutions to OEMs and fleet operators. It is one of the only players globally to have a full stack presence across patented algorithms, advanced hardware devices, and a cloud-based data analytics platform—all developed in-house.

“We are focused on growing our presence in the entire commercial vehicle segment across the globe. In the coming years, we are aiming to revamp the electric vehicle segment using our extensive ambient cognitive AI technology. In the direct market, we are witnessing impressive growth in India and are in the process of onboarding multiple large commercial vehicle OEMs. To sustain a growth rate of over 200% year-on-year, we are constantly expanding our team by hiring on multiple levels throughout the organization,” the company said.

“We aspire to become the Digital Twin Open-Source Software (OSS) of the world in every segment. Our vision is to bring the power of digital twin technology to every segment across the globe so that it is accessible and beneficial to all. This will be accomplished while helping fleet operators monitor, benchmark, and conduct predictive maintenance of assets and identify underperforming assets, and increase overall operational profits,” Anup Patil, co-founder and CEO of Intangles, said.

The funding further solidifies Intangles’ position as India’s de facto Digital Twin solution provider, and the proceeds will be used to serve a new customer pipeline, expand its global presence, and accelerate hiring to strengthen its product engineering, sales, and delivery teams.

“Intangles is a leader in digital twin technology, enabling efficiencies in automotive and industrial applications. Integrating deep competencies in artificial intelligence, predictive analytics, edge computing, and communication technologies has allowed them to build their state-of-the-art product suite. After getting strong traction in the Indian market, they are now venturing into Western markets. We are privileged to partner with them on this journey,” Rahul Bhasin, Managing Partner, Baring India, said.

E&Y acted as the exclusive financial adviser to the company on this fundraising transaction.