Bengaluru-based Nova Spectral AI has raised ₹21.15 crore (US$2.25 million) in a funding round. Shastra VC led the investment. Equirus InnovateX Fund and angel investors also participated.
Use of funds
The startup plans to develop an infrared image sensor chip. Its initial target market includes defense drones and surveillance systems. The new capital will support this product development work.
Company background
Nova Spectral AI was founded by IIT Kanpur alumni Anish Priyadarshi and Sanjeev Kumar. The startup is building a short-wave infrared, or SWIR, sensor. Nova aims to make these sensors up to 100 times cheaper than current technology.
Sensor applications
The SWIR sensor captures images in low light and through smoke, haze, and fog. That makes it useful for defense, robotics, cars, and smartphones. The company says reduced costs could expand access in these categories.
Nova Spectral AI will now focus on building the sensor for defense drones and surveillance systems. The company also plans to lower sensor costs for wider commercial use. These steps will be supported by the new funding.
Read more: economictimes.indiatimes.com