The US- and India-headquartered AI company, Lincode Labs Inc has reportedly garnered capital in its latest seed funding round. The startup is a vision inspection firm and concentrates on manufacturing space.
The startup has raised the funds from the US-based early-stage investment firms Come Back Capital, founded by Scott Shane, and RSCM LLC, founded by David Lambert, VC Circle reported citing Lincode's official statement.
It also raised an additional amount in angel funding led by The Einfach Group, founded by Pratap Krishna, the company said in its official statement.
The company will deploy the fresh capital on research and development (RD), sales and marketing, and product development. The amassed angel funding will be employed for expanding business and filing patents.
Rajesh Iyengar and Ritika Nigam established Lincode in 2017. The company aids manufacturers in identifying, foreseeing and wiping out defects in product through machine learning and computer vision.
The company asserts to have nearly 40 clientele across the globe in various industries like metal, pharmaceutical, and automobile.
"The startup seeks to make smart manufacturing lean and accessible to the micro, small and medium enterprises (MSMEs)," Iyengar, CEO of the firm, said in an interview with the cited media agency.