The Chennai Angels (TCA), a leading angel investment group, on Tuesday announced investment of ₹3 crore in Jidoka Technologies, a city-based company specialising in automated detection of visual defects and audio testing. TCA also announced a follow-on investment commitment of ₹3 crore later this year.
Jidoka Technologies caters to industries such as automotive, packaging, pharmaceuticals, electronics, FMCG and general manufacturing.
“TCA has been a partner in our journey of fundraising. They not only helped us position ourselves better with angel investors but are also starting to help us structure our forward-looking business plan,” Sekar Udayamurthy, Co-Founder and CEO, Jidoka Technologies, said in a press release.
The company says it will invest in expanding across India and international markets.
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 a good array of technology-based product and services solutions that help achieve benchmark quality in manufacturing. We do believe that they can scale up globally as well.”