Lincode Labs Inc, a US and Bengaluru-based AI-backed visual inspection startup, announced that it has raised seed funding from Come Back Capital and RSCM LLC. The startup has also secured an angel investment from The Enfich Group, according to YourStory report.
The company said it plans to utilise the current financing for product development, research and development, sales and marketing activities. The angel investment will be deployed for patent-filing and business expansion.
Commenting on the funding, Rajesh Iyengar, Co-founder and CEO of Lincode Labs, said, “We’ve made great progress over the past one year as evidenced by the platform’s consistent growth. This round of financing will be instrumental as we continue to invest in our products and customer acquisitions in order to further fuel our growth.’’
Lincode Labs was founded in 2017 by Rajesh Iyengar and Ritika Nigam. Lincode is an artificial intelligence (AI), machine learning (ML), and deep learning company enabling manufacturers to inspect the quality of the products they produce and improve the overall efficiency using computer vision.
Scott Shane, Founder and CEO, Come Back Capital added, “Lincode’s ability to leverage best-in-class technology processes and deep tech industry expertise has enabled it to create a niche in the AI space. We are thrilled to invest in this partnership; Lincode has a dynamic management team and will prove to be a high-growth company.”
Pratap Krishna, serial entrepreneur and angel investor, The Enfich Group shared, “The startup is doing an incredible job in empowering smart manufacturing with powerful AI and IoT solutions. They are constantly challenging the status quo to deliver solutions previously considered unattainable. We are certain that Lincode’s AI vision inspection will soon find its niche in the manufacturing industry.”
Lincode Labs has a global presence with offices in India, US, and Europe. The company claims to have 40 clients globally that include automotive, electronics, pharmaceutical, polymer, and metal industries.
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