Robotic Startup Ishitva Raises Over $1 Million in Pre-Series A Round in India
Ahmedabad based robotic startup Ishitva Robotic Systems (IRS) has raised a Pre-Series A round of over $1mn led by Inflection Point Ventures, one of India’s largest angel investment platforms. The funds raised will be utilised in growing sales and expanding the R&D team.
Many waste management and plastic value chain players and veterans also participated, including Kamaljyot Investments Ltd (a subsidiary of Excel Industries Ltd), Gandhi Family from GRP Ltd., AVI Global Plast Private Limited, Anup Gulati, COO at Quality Maritime Provider Lda., Harinder Arya, President & Div CEO – Major Capex & Pressure Control at Joulon, Sanjay Kamlani, Serial Investor and Founder of Pangea3 and Mohan Ayyangar: Operations Lead – GDS EY India.
“Ishitva’s model is particularly innovative as they are leveraging cutting edge technology to sort out the waste which is already being generated. Sorting the waste is the first step to a meaningful recycling ecosystem. Ishitva’s business vision and our ESG goals are a seamless synergy which prompted us to invest in the company,” said Mitesh Shah, Co-founder, Inflection Point Ventures.
Photo courtesy of Jilbert Ebrahimi.