The Chennai Angels (TCA), one of the most active angel investing groups in Tamil Nadu, has invested ₹3 crore in Jidoka, a start-up involved in quality inspection for companies. A follow-on investment of ₹3 crore has also been committed for a second tranche, later this year. Jidoka will invest funds to enhance its product for international markets and grow to North America and subsequently to Europe.
The Chennai-based firm specialises in automating the detection of visual defects and audio testing – processes that are highly subjective by nature across industries such as automotive, packaging, pharmaceuticals, electronics, FMCG and general manufacturing.
Sekar Udayamurthy, co-founder & CEO, Jidoka Technologies, said, “We will also use 25% of the funds for our internal research and development.”
Venkatesh Vijayaraghavan, director and CEO, Cavinkare Pvt. Ltd. (Lead Investor from TCA), said, “Jidoka operates in a space that is of critical relevance to most companies today. The team has built an array of technology-based product & services solutions that help achieve quality in manufacturing.”
Lakshmi Narayanan, ex-vice chairman and ex-CEO of Cognizant and chairman of ICT Academy, said the team of Krishna Iyengar, Vinodh Venkatesh and Sekar Udayamurthy firmly believed that automated process rigour with deep tech product inspection alone could deliver safe and secure products to consumers, be it a tablet of medicine or a component in an electric vehicle. The Chennai Angels invests in Jidoka - The Hindu