Prosus Ventures has backed Detect Technologies in a $28M funding

Detect Technologies is an AI-based SaaS startup that has raised $28 million in primary and secondary Series B round funding. The companies who have participated in the round are Prosus Ventures, Accel, and Elevation Capital.

Detect Technologies Is planning to utilize the fresh capital funding in the following ways:

Expansion and strengthen its sales and operations over North America and Europe, and
Enriching its product suite for becoming faster-evolving artificial intelligence (AI) sector.

The platform facilitates cloud-based applications to industries to automate and boost the visibility of industrial risks and improve productivity.

With the expansion plan in North America, the startup has established a presence in Houston, TX as its North American headquarters.

In this industry, companies are making efforts are actively exploring comprehensive solutions to automate their risk identification process and reporting functions. Detect Technologies helps its growing global client portfolio with huge visibility and actionable insights, helping them reduce their non-compliance to boost productivity and throughput.

EXECUTIVE OPINION:

“Our vision is to provide actionable intelligence to help industries mitigate their risks while achieving their business objectives sustainably. I am happy that our customers are reporting fewer HSE incidents and reduced unplanned downtimes with increased productivity levels. We are grateful for the confidence bestowed upon us by our investors, and look forward to accelerating our market expansion,” said Daniel Raj David, CEO, and Co-founder of Detect Technologies.

Ashutosh Sharma, Head of Investments, India at Prosus Ventures mentioned, “Frontline worker safety and asset productivity are massive unsolved global problems, with significant financial and ESG-related implications. The Detect team has done a phenomenal job in building a machine learning-based, plug-and-play cloud solution to automate the detection of safety violations on a near real-time basis, which is reflected in their market leadership, quality of logos, and the recent as well as expected scale up in the business.”

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Prosus Ventures has backed Detect Technologies in a $28M funding

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