Exclusive: Environmental intelligence startup Ambee gets angel investment
Bengaluru-based environmental intelligence startup Ambee has raised an undisclosed sum in an angel funding round from incubation platform Venture Catalysts, a top company official told TechCircle.
In a telephonic interaction, Akshay Joshi, founder and chief executive of Ambee, said that the firm will use the capital to strengthen its technology, shore up operations, hire data scientists and introduce its product across markets.
"The company is also looking to expand its data network and be in a position to spread environment intelligence across the country," he added.
Raghav Singhania, managing partner at Venture Catalysts; Amit Agarwal; Rahul Gugaliya, director at multi-business conglomerate Transworld Group; and Google India’s managing director Rajan Anandan, who are all part of Venture Catalysts’ network, had also participated in the round.
The platform uses proprietary data and analytics to help end users make informed decisions or take preventive measures in a situation of severe environmental distress.
Run by Datair Technology Pvt. Ltd, the venture was founded in 2017 by Akshay Joshi, Madhusudhan Anand and Jaideep Singh Bachher. The three founders come with prior experience in different domains such as mobile and automotive technology, analytics and legal compliance.
“Deteriorating conditions of human and planetary health is a cause of concern that has impacted everyone. Ambee will help enterprises, as well as people, take actions that are environmentally responsible. Through their data-driven model, organisations and enterprises will be able to understand their environment better and act in a way that contributes to their own productivity as well as the environment’s restoration,” said Apoorv Ranjan Sharma, co-founder and president of Venture Catalysts.
Mumbai-based Venture Catalysts invests between $250,000 and $1 million in early-stage startups. It was set up in December 2015 by Sharma, Anil Jain, Anuj Golecha and Gaurav Jain.
Its most recent investments include car financing company OTO Capital, bike-sharing app Mobycy, medical-technology startup iNICU, operating system maker PrimeOS, virtual trial room startup Try & Buy and more.