SUMMARY
- DeepMatrix has secured $1.6 million in its Pre-Series A funding round led by YourNest and Arali Ventures.
- This round also saw the participation of angel investors including Tracxn founder Abhishek Goyal.
- DeepMatrix aims to enhance its product stack, broaden its services in mining and asset management, and venture into international markets.
Geospatial analytics startup DeepMatrix has secured $1.6 million or Rs 13.28 crore in its Pre-Series A funding round led by YourNest and Arali Ventures. This round also saw the participation of angel investors including Tracxn founder Abhishek Goyal.
With this infusion of capital, DeepMatrix aims to enhance its product stack, broaden its services in mining and asset management, and venture into international markets such as the United States and Australia.
Established in 2022, DeepMatrix offers a cloud-native Software-as-a-Service (SaaS) platform designed to streamline and consolidate the processes of data ingestion, analysis, and visualization for geospatial data. The Bengaluru-based startup tackles the complexities associated with data annotation, labeling, analysis, and reporting, offering a user-friendly solution for businesses to efficiently manage and interpret vast amounts of geospatial data.
DeepMatrix’s CEO Naresh Soni said, “There is an increased demand in the industry and this funding will help in developing breakthrough innovative solutions to solve customer problems. We have experienced good traction in the Indian market and are looking to work with enterprises and governments in developed markets like US, Australia and Europe, etc.”
DeepMatrix has asserted its commitment to equipping enterprises with the necessary tools to fully leverage the potential of geospatial data, ensuring the efficient and sustainable management of resources for the future.
Vivek Mansingh, General Partner at YourNest commented “In DeepMatrix, we saw not just the opportunity of AI and deep learning for the geospatial sector, but also a founding team that is driven by a commitment to leverage their knowledge and skillset for global mining and asset management at scale.”
