ZestIoT, an IoT and AI powered aviation platform empowering the aviation ecosystem to digitize last-mile operations, enhance operational efficiencies, and introduce predictability in day-to-day operations, announced that it has secured 6.5M USD (51Cr INR) in series A funding, led by IvyCap Ventures Pvt Ltd, a leading homegrown venture capital firm.
The round also saw participation from Loyal VC, a global venture fund. The proceeds will be directed towards revolutionizing the aviation industry, enabling faster turnaround of aircraft and enhancing passenger experience.
With the latest investment, ZestIoT will double down on deep tech AI-driven automation, expand its talent pool, expand internationally, and prioritize customer success, a statement said.
Speaking about the investment, Vikram Gupta, Founder and Managing Partner of IvyCap Ventures
Advisors Pvt Ltd, expressed, “ZestIoT has pioneered the digitization of last-mile operations, utilizing
its cutting-edge deep tech platform and niche solution to automate processes and deliver real-time
insights. This provides airlines and airport operators with informed decisions to optimize their
operations and improve efficiency. We firmly believe that ZestIoT has the potential to solve this
problem at the grassroots level and emerge as a leader in this segment. We are thrilled to support
their growth and assist them in becoming the largest player in this sector.”
Ashish Wadhwani, Co-Founder and Managing Partner of IvyCap Ventures will be joining the board
of ZestIoT on behalf of IvyCap Ventures.
Talking about their plan to utilize the raised fund, Amit Sukhija, Founder & CEO, ZestIoT, said, “We’re thrilled to announce the successful completion of our series A funding round. With growing demand from the aviation and manufacturing sectors, we see a strong push for automating operations and empowering the workforce for smarter decision-making. With the help of advancements in sensors, edge computing, and various communication technologies, we foresee a new wave of innovative use cases being developed by our customers using our platform. This new investment will accelerate our mission to empower the aviation ecosystem with last-mile digitization and automation, delivering multiple use cases to airports, airlines, and handlers based on their individual journey of digitization. In addition, we’re extending our offering to the manufacturing industry, enabling customers to adopt our AI + IoT automation platform to produce high-quality products in a cost-effective manner while ensuring operational safety.”
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